Perry Ellis exceeds expectations for 2Q
Perry Ellis bounced back from a loss in the same period last year, with a 2.5 percent increase in revenue for the second quarter of 2018.
Perry Ellis International, which owns the likes of Perry Ellis, Jantzen and Original Penguin, and holds licensing deals with brands such as Nike, suffered from a loss in the second quarter of 2017, but this year reported a net income of $979,000. Its revenues jumped 2.5 percent from $202 million to $207 million.
The results exceeded the expected revenues of $202 to $205 million. However, the company will continue to keep its expectations for the 2018 fiscal year at $870 million to $880 million.
Perry Ellis International CEO and President Oscar Feldenkreis cited strong performances in particular from the Perry Ellis and Penguin brands. “We delivered strong second quarter results, exceeding both our top and bottom line guidance, continuing our positive momentum from first quarter. Our ongoing positive performance demonstrates the power of our core brands, the strong response to our product innovations and the intense focus with which we direct our resources to deliver,” he said in a statement.
Throughout 2017, Perry Ellis has increased its presence in Latin America, with the expansion of licensing deals in Chile and Mexico.
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