Perry Ellis International comparable store sales rise by 5 percent

REPORT_ Perry Ellis International, during the third quarter of fiscal 2015, the Company on a year-over-year basis reported a 5 percent increase in comparable store sales and a 38 percent increase in direct e-commerce revenues. The company executed eight new license agreements in the quarter and registered a 10 percent increase in licensing revenue.

Commenting on the results, Oscar Feldenkreis, President and Chief Operating Officer of Perry Ellis International said, “We are pleased to continue our positive momentum and deliver another consecutive quarter of solid results for our shareholders. The quarter was marked by expansion in gross margin and a significant improvement in operating earnings versus the prior year.”

The company continued to concentrate on growth and profitability in higher gross margin businesses including Perry Ellis, Original Penguin, licensing and international. It expanded gross margin by 120 basis points to 33.3 percent of net revenues driven by the success of its strategy to focus on strong product performance at retail and growth in higher margin lifestyle brands including Perry Ellis and Original Penguin and channels including international, direct to consumer and licensing while reducing its emphasis on lower margin private and exclusive brand revenues.

Company reported a significant improvement in earnings with adjusted net earnings per share which totaled 0.03 dollars, including a 0.04 dollars per share negative impact from currency losses versus an adjusted net loss of 0.15 dollars in the prior year third quarter. It reported a GAAP net loss per share of 0.03 dollars significantly improved versus GAAP loss per share of 0.20 dollars in the prior third quarter.

Total revenue for the third quarter of fiscal 2015 was 211 million dollars, a 5 percent decrease compared to 222 million dollars reported in the third quarter of fiscal 2014. During the third quarter of fiscal 2015, gross margin expanded to 33.3 percent as compared to 32.1 percent in the same period of the prior year.