Perry Ellis International Reports Fourth Quarter & Full Fiscal 2014 Results
On April 3, 2014, Miami-based Perry Ellis International Inc. reported results for the fourth quarter ("fourth quarter of fiscal 2014") and the fiscal year ended Feb. 1, 2014 ("fiscal 2014").
Oscar Feldenkreis, president and chief operating officer of Perry Ellis International commented. "We were disappointed with the results of fiscal 2014. The year saw significant challenges, with unseasonal weather, consumer indifference to apparel, and declines in mall and outlet center traffic all negatively impacting our business," he said. "We also experienced a fundamental shift in the business model favoring national brands over private and exclusive brands, thereby impacting revenues and near term profitability. On a positive note, there were many encouraging areas: our overall golf lifestyle apparel business, international, as well as Nike swim continued to be strong. Licensing income grew dramatically in the fourth quarter reflecting the strength of our core brands, and gross margins expanded by 170 bps in the fourth quarter reflecting the strength of these businesses coupled with our successful turnaround of the Rafaella sportswear collection."