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Driven by positive Q4, Perry Ellis expects jump in FY15 revenues

By Prachi Singh

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Business |REPORT

Perry Ellis International in its preliminary results announcement for the fourth quarter and fiscal year 2015 said that it witnessed fourth consecutive quarter of solid increases in gross margin, adjusted EBITDA margin and adjusted earnings per share over prior year. The company expects fiscal 2016 revenue to be approximate 900 million dollars, as compared to 890 million dollars, last fiscal.

Commenting on the results, Oscar Feldenkreis, Vice Chairman, President and COO, Perry Ellis International said, "We ended the year with solid momentum in our major brands across all channels as evidenced by our strong gross margin rate, which rose 170 basis points over the prior year. We also realized positive comparable store sales in our direct-to-consumer business of 3.4 percent. We were also pleased to see our adjusted EBITDA margin expand to 6.1 percent for the full year driven by our strong gross margin."

Fourth quarter and FY16 highlights

The company continued its focus on the premier brands that are driving global growth under the Perry Ellis, Original Penguin and the Golf Lifestyle businesses. It completed six additional licensing deals for a total of twenty-six in fiscal 2016. For the whole year adjusted diluted earnings per share are expected to approximate 1.81 dollars.

Fiscal 2017 outlook

The company expects total revenues to be in a range of 910 dollars to 915 million dollars for fiscal 2017 and gross margins are expected to expand 30 to 40 basis points to a range of 36.1 percent to 36.2 percent. The company expects adjusted earnings per share in a range of 1.90 dollars to 1.95 dollars.

"The company is entering fiscal 2017 in a position of strength, reflecting solid selling trends across its key brands and products. In fiscal 2017, we are concentrating on key businesses that are poised for expansion and accelerated growth in the future," said George Feldenkreis, Chairman and CEO, Perry Ellis International.

Perry Ellis International