Perry Ellis International Inc. (NASDAQ:PERY) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Perry Ellis International Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 12.68% to $0.62 in the quarter versus EPS of $0.71 in the year-earlier quarter.
Revenue: Decreased 1.21% to $262.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Perry Ellis International Inc. reported adjusted EPS income of $0.62 per share. By that measure, the company missed the mean analyst estimate of $0.63. It missed the average revenue estimate of $265.82 million.
Quoting Management: Oscar Feldenkreis, President & Chief Operating Officer of Perry Ellis International, commented, “We had a solid start to the year and are pleased with our first quarter results. Our results were delivered even as we faced challenges created by unseasonal weather and economic budgetary measures that impacted consumer spending. During the quarter, we made strong progress on our Perry Ellis and Rafaella collections and managed our inventory tightly to maximize profitability. We expanded gross margin as a total Company and in our retail stores reflecting the strong acceptance of our products despite reduced store traffic that impacted overall transactions and total sales. We were also pleased with the strength of our business in Mexico and Canada, which benefited from a favorable response to our golf apparel and Perry Ellis collection businesses.”
Key Stats (on next page)…