Perry Ellis International, Inc. (PERY) Tops Q2 EPS by 4c; Bumps Low-End of FY15 EPS Outlook

Perry Ellis International, Inc. (NASDAQ: PERY) reported Q2 EPS of ($0.08), $0.04 better than the analyst estimate of ($0.12). Revenue for the quarter came in at $204 million versus the consensus estimate of $209.04 million.

Perry Ellis International, Inc. sees FY2015 EPS of $0.85-$0.95, versus prior guidance of $0.8-$0.95 and the consensus of $0.91. Perry Ellis International, Inc. sees FY2015 revenue of $910-920 million, versus the consensus of $924.9 million.

Oscar Feldenkreis, president and chief operating officer of Perry Ellis International commented, "There is positive momentum in our businesses as the team is focused on driving higher margin sales, adding licensing agreements and expanding our geographic reach and categories served. During the quarter we continued to make solid progress in our international expansion across our direct operations in Canada, Mexico and Europe. We see international growth and direct-to-consumer expansion as important drivers of the business going forward. As we look ahead, we are announcing strategic priorities that will enable us to maximize shareholder value by remaining focused on the strategic review of our portfolio and optimizing the positioning of our brands while continuing to reduce costs.

During the second quarter, our golf platform and Original Penguin brands led our growth while our Perry Ellis Men's Collection achieved solid sell through at retail. Our direct-to-consumer business delivered a 2.7% comparable same store sales increase and direct ecommerce registered a 20% comparable increase over the same period. We are especially pleased with the delivery of a strong gross margin expansion which has been a key focus, with margins increasing to 34.6% from 32.4% in the prior year," Mr. Feldenkreis concluded.

For earnings history and earnings-related data on Perry Ellis International, Inc. (PERY) click here.

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