Shares of Perry Ellis International Inc. fell 3.4 percent in midmorning trading Thursday after the company posted third-quarter results that essentially met Wall Street’s expectations.For the three months ended Oct. 28, the company swung to the black with net income of $3.2 million, or 21 cents per diluted share, against a net loss of $5.2 million, or 34 cents, a year ago. On an adjusted basis, diluted EPS was 25 cents, versus 23 cents a year ago. Total revenues were up 2.5 percent to $198.8 million from $194 million, which included a 2.7 percent gain in net sales to $190.4 million. The balance of revenue came from royalty income.Wall Street’s consensus estimate for the quarter was diluted EPS of 25 cents on revenues of $198.7 million.Oscar Feldenkreis, chief executive officer and president, said, “The third quarter was highlighted by strength across key financial metrics with increased revenues, expansion in gross margin and expense leverage, which drove a 165 percent increase in adjusted pre-tax income versus the prior year.”The ceo said gross margin in the quarter was 37.3 percent, compared with 36.7 percent a year ago. He also noted that the brands that saw strength in the quarter were Perry Ellis, Original Penguin, Nike Swim, Gold and Rafaella.Perry Ellis reiterated diluted EPS guidance for the fiscal year in the range of $2.07 to $2.17, on revenues expected at between $870 million to $880 million.Investors sent Perry Ellis shares down to $24.22 at 10:26 a.m. in Nasdaq trading.
@juicebeauty, where @gwynethpaltrow holds the title of creative director of makeup, has become one of the foremost labels in the organic beauty category –– with sales on track to hit $100 million this year. What’s behind the rapid growth the brand is experiencing right now? It all started in 2005 when the wellness movement was just getting started. Read more on WWD.com. #wwdbeauty
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"I want to tell a story that inspires people to feel good about themselves, but also I'm making a commentary about the lack of female stories and female directors and saying this should change," said @imheathergraham on her latest project "Half Magic." The comedy feature, which the actress wrote and directed, is based on her own struggles as a woman in show business. Read @andrewnodell's full interview with Graham on WWD.com. #wwdeye (📷: @jgreenery)
@meltcosmetics cofounders @lora_arellano and @danabomar built their brand on a single idea: a true matte lipstick. To set the brand apart, they said they always put their customers first –– including a personalized note in each package. #wwdsummits #wwdbeauty
@moncler unveiled its latest project, #MonclerGenius, yesterday at Milan Fashion Week. The Italian outwear maker gave show-goers a preview of the monthly collections – which were created by eight designers and creative talents including Pierpaolo Piccioli, Simone Rocha, Craig Green and more – that will start rolling out in the summer.