New Threads Only:  Add to Google Reader or Homepage
New Threads & Replies:  Add to Google Reader or Homepage
Forums are for serious investors only. GuruFocus Forum Rules.

Forum List » Business News and Headlines
SEC Filings, Earing Reports, Press Releases
New Topic Search
Goto Thread: PreviousNext
Goto: Forum ListMessage ListNew TopicSearchLog In
Perry Ellis International Inc. Reports Operating Results (10-Q)
Posted by: gurufocus (IP Logged)
Date: December 4, 2012 02:07PM

Perry Ellis International Inc. (PERY) filed Quarterly Report for the period ended 2012-10-27. Perry Ellis International, Inc. has a market cap of $341.4 million; its shares were traded at around $20.81 with a P/E ratio of 16.1 and P/S ratio of 0.4. Perry Ellis International, Inc. had an annual average earning growth of 0.4% over the past 5 years.



Highlight of Business Operations:

Net sales. Men’s Sportswear and Swim net sales for the three months ended October 27, 2012 were $165.5 million, a decrease of $9.4 million, or 5.4%, from $174.9 million for the three months ended October 29, 2011. Net sales decreased primarily from our expected decrease in Perry Ellis. As we advance into the fourth quarter we have repositioned Perry Ellis and expect to see an improvement in performance. This decrease was partially offset by increases in our core golf business across all brands.

Women’s Sportswear net sales for the three months ended October 27, 2012 were $45.1 million, a decrease of $5.4 million, or 10.7%, from $50.5 million for the three months ended October 29, 2011. Net sales decreased due to the factors described below.

Women’s Sportswear net sales for the nine months ended October 27, 2012, were $118.0 million, a decrease of $12.5 million, or 9.6%, from $130.5 million for the nine months ended October 29, 2011. Net sales decreased, as anticipated, primarily due to our Rafaella sportswear business, partially offset by increases in our contemporary Laundry by Shelli Segal dresses and C&C California businesses. We expect improved performance in Rafaella sportswear collection business as we transition into the holiday and spring seasons.

Gross profit. Gross profit was $75.8 million for the three months ended October 27, 2012, a decrease of $6.7 million, or 8.1%, from $82.5 million for the three months ended October 29, 2011. Gross profit was $232.9 million for the nine months ended October 27, 2012, a decrease of $18.8 million, or 7.5%, as compared to $251.7 million for the nine months ended October 29, 2011. These decreases are attributed to the reduction in net sales as described above and the factors described within the gross profit margin section below.

Women’s Sportswear EBITDA margin for the three months ended October 27, 2012 decreased 530 basis points to 1.9%, from 7.2% for the three months ended October 29, 2011. Women’s Sportswear EBITDA margin for the nine months ended October 27, 2012 decreased 480 basis points to 1.1%, from 5.9% for the nine months ended October 29, 2011. In addition to the reduction of net sales, as discussed above, the margin was negatively impacted by the costs associated with the exit and consolidation of our east coast warehouse logistics providers. Margin was also negatively impacted by the loss of leverage in selling, general and administrative expenses attributable to the expected revenue reductions in this segment.

Read the The complete Report



Stocks Discussed: PERY,
Rate this post:




Sorry, only registered users may post in this forum.

Please Login if you have an account or Create a Free Account if you don't




Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
Free 7-day Trial