NEW YORK — Higher costs took the wind out of fourth-quarter earnings for Perry Ellis International Inc., but surging sales lifted the company to double-digit gains for the year.
For the three months ended Jan. 31, the Miami-based firm saw earnings retreat 3.2 percent to $8.2 million, or 83 cents a diluted share, compared with $8.5 million, or 93 cents, in the year-ago period. The earnings-per-share decline stemmed from the higher number of shares issued in a secondary stock offering in May, the company said.
Earnings for the year surged 59.4 percent to $21 million, or $2.15 a share, compared with $13.2 million, or $1.59 a share, in the previous year. Total revenues advanced 29.8 percent to $656.6 million from $505.9 million. Sales vaulted 30.9 percent to $633.8 million from $484.2 million, while royalties gained 5 percent to $22.8 million from $21.7 million.
“We remain focused on expense control and continue to improve the synergies related to the Salant and now the Tropical acquisition,” George Feldenkreis, chairman and chief executive officer, said during the company conference call. “We continue to invest in infrastructure to drive down operational costs.”
Total revenues for the fourth quarter rose 18.4 percent to $172.1 million from $145.4 million in the year-ago period. Revenues generated from sales increased 18.2 percent to $165.9 million from $140.3 million, while royalties shot up 21.8 percent to $6.2 million from $5.1 million.
“The increase during the quarter was primarily attributable to our men’s wear business as well as an increase in royalty income,” George Pita, chief financial officer, said during the call.
“The Perry Ellis brand continues to perform well and experienced a strong quarter driven by the sportswear collection, dress shirts and dress pant sales,” Oscar Feldenkreis, president and chief operating officer, said during the call.
The only segment that failed to perform well was swimwear, George Feldenkreis said.
In the coming year, management is depending on new Perry Ellis denim offerings and the continued success of the Original Penguin brand to fuel growth.
“[Original Penguin] has received resounding support from the media, entertainment and celebrities as well as the retailers and consumers,” Oscar Feldenkreis said. The company plans to introduce a premium line of Original Penguin men’s and women’s denim this spring. Two additional Original Penguin stores are slated to open this year, bringing the total up to five locations.
@zacposen's go-to holiday gift? Cookies! "I'll usually bake cookies and send them as a gift," said the designer, who recently released his cookbook "Cooking With Zac: Recipes from Rustic to Refined." Get the recipe for his Brown Butter-Chocolate Chip Cookies via link in bio 🍪🍪🍪 #wwdeye #cookingwithzac
For @monsemaison’s pre-fall 2018 collection, Fernando Garcia and Laura Kim honed in on the brand’s many signatures — men’s wear, which was tweaked and feminized through deconstruction, proportion play and lots of bare shoulders. See the rest of the photos on WWD.com #wwdfashion (📷: George Chinese)
On Friday night, @yohjiyamamotoofficial received the Design for Asia Lifetime Achievement Award in Hong Kong. The 75-year-old designer has been celebrated for many years and is best known for his dark and avant-garde tailoring. “In my long career, in design, architecture, [I’ve been to] so many parties, this is the very first time that I have such a warm feeling, I really appreciate this,” Yamamoto said. #wwdfashion (📷: @dominiquemaitre)
Discovery is collaborating with British pop artist @philipcolbert on a new line of clothing and accessories called Discovery Shark. The collection, which will launch next summer for Shark Week’s 30th anniversary, features a whimsical line of women’s and men’s bomber jackets, sweatshirts, bags and more. #wwdfashion
“I’m always a big champion of a female rapper, and I’m glad to see a new voice that feels unique and authentic that’s coming up, and I think we’re going to see more great things from her,” said @itsjeremyscott about @iamcardib, who performed at @moschino’s Art Basel Miami Beach party last night. #wwdeye (📷: @lexieblacklock)
@janellemonae’s “What’s Your Frequency?” room in @refinery29's #29Rooms made its debut this week at the opening of the Los Angeles art exhibit. “It’s about the ongoing conversation around mass surveillance, the weaponization of technology and cultural uniformity. My space was created so that we can come together and talk about the complexities of our humanity,” said Monáe. #wwdeye (📷: @bucknerphoto)
@pantone announced their Color of the Year 2018: Ultra Violet. Nearly 20 months after the musician Prince’s death, fashion is having a purple moment. Varying shades of purple appeared on spring or fall runways, from @christopherkane to @calvinklein. @gucci’s Alessandro Michele bathed his fall runway in ultra violet-colored light at one point. Pantone 18-3838 is meant to “push the boundaries of what inspires us to look upward and outward to the future.” #wwdnews #wwdfashion (📷: @kukukuba)