Fashion brand Perry Ellis (PERY) reported double digit growth in its fourth quarter sales, primarily fueled by high margin core brands and channels which surged 19% year-over-year, along with international sales growth of 33%. Sales jumped 11.3% to $227.3 million. Men’s sportswear and Nike swimming gear showed particular strength in the quarter, which helped in the margin increase.
Earnings more than tripled to $39.6 million or $2.56 per share, driven by a one-time benefit from the recent US tax legislation. Excluding special items, Perry Ellis reported earnings of $0.88 per share, up 33.3% year-over-year.
Outlook
For fiscal 2019, Perry Ellis is seeing sales in the range of $855 million to $865 million, while diluted earnings per share, assuming a tax rate of 25%, is expected in the range of $1.80 to $1.90. The company said it has remodeled fiscal 2018 sales and earnings to remove the sales, income or losses related to the transition of the Laundry dress business to a license model and the elimination of Bon-Ton sales due to its bankruptcy and liquidation.
Most Popular
After a weak first half, will NIKE (NKE) hit the recovery path this year?
After a prolonged slowdown, NIKE, Inc. (NYSE: NKE) is working on a turnaround plan to regain the brand’s strength. In recent years, the sneaker giant’s overall performance has not been
Important takeaways from Paychex’s (PAYX) Q2 2025 earnings report
Paychex Inc. (NASDAQ: PAYX), a leading provider of human resources and payroll services, reported better-than-expected revenue and profit for the second quarter of fiscal 2025, sending the stock higher soon
Lamb Weston’s (LW) challenges may not end soon, a few points to note
Shares of Lamb Weston Holdings, Inc. (NYSE: LW) turned red in mid-day trade on Friday. The stock has dropped 19% in the past one month. The company delivered disappointing results
