Perry Ellis International has recently released its first quarter report of fiscal 2019 . The fashion brand has managed to record an increase of revenue while noting significant declines in net profit. An Adjusted Diluted EPS of $0.78 and a GAAP Diluted EPS of $0.66 were some of the highlights as well for the first quarter.
“We are very pleased with our start to fiscal 2019, which continued our momentum from last year. We ended the quarter with a strong balance sheet, which enabled us to retire 50 million dollars of outstanding notes. The company remains optimistic about our business prospects as we enter the second quarter, and we conservatively plan to hold the full year guidance.” Chief Executive Officer and President of Perry Ellis Oscar Feldenkreis expressed in a statement.
In further details, the fashion house reported a 5.4 percent increase of revenue to 255 million dollars. The strong growth in its Golf and Nike Swim channels added to the sales increase during the first quarter. Aside from that, the company also noted that the double-digit increases in comparable store sales in its Direct-to-Consumer channel helped the total data posted for the quarter.
“Rounds of golf really doesn’t have a major impact on the golf lifestyle sportswear business, to be honest with you,” Feldenkreis added. “It probably affects a little bit more of the country club, green grass distribution. … There you can find a little bit of softness. But remember, most of the golf courses in which we’re open are in the Southeast and West Coast; [they] are open all year round and they have actually done much better.”
Perry Ellis also noted that the GAAP pre-tax income of $13.1 million during the period – a considerable decline if compared with last year’s $14.5 million. However, the adjusted pre-tax income indicated a 7.6% surge to $15.6 million from last year’s $14.5 million.
Diluted adjusted net income per share also had 78 cents during the period. The data surpassed the market consensus estimate of 67 cents. Moreover, the GAAP net income per diluted share added 66 cents as indicated in the report.
Perry Ellis FINDMINE Partnership
Furthermore, Perry Ellis also inked down a new partnership with FINDMINE to build an Automated Complete-the-Look solution for its e-commerce.
FINDMINE wil help the fashion brand build a machine that will scale the outfit creation process. Aside from that, the machine will provide better customer experiences for all of Perry Ellis’s brands. This include Original Penguin, Callaway, Cubavera, and Laundry by Shelli Segal brands.
The planned platform is further designed to make conversion rates processes better as well as the performance of the average order values and units per transaction.
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