Perry Ellis revenue jumps 2.5% in Q3
Following a strong second quarter, Perry Ellis reported another jump in revenue for its third quarter ended October 28, 2017.
Perry Ellis International, which owns the likes of Perry Ellis, Jantzen and Original Penguin, and holds licensing deals with brands such as Nike, reported a net profit of $9.6 million as compared to $6.9 million during the same period last year. Its revenues jumped 2.5 percent to $199 million, which was at the high end of guidance of $195 to $200 million.
The company, however, did not adjust its guidance for 2018 and instead reiterated its revenues guidance for the fiscal year in a range of $870 million to $880 million.
CEO, Oscar Feldenkreis, attributed strong third quarter results to its core brands including Perry Ellis, Original Penguin, Nike swim, Golf, as well as Rafaella.
“Our powerful portfolio of global brands combined with the disciplined execution of our growth strategies by our team led to another strong quarter at Perry Ellis International, continuing our positive momentum from the first half of the year,” said Feldenkreis.
“The robust performance of our brands at our retail partners along with the increasing percentage of international and direct-to-consumer revenues drove a 50 basis point increase in adjusted gross profit for the quarter.”
This month, Perry Ellis International also announced a new license agreement with NMNY Group for the Laundry by Shelli Segal and Laundry by Design trademarks in the US and Canada.
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