This excerpt taken from the PERY 8-K filed Nov 18, 2009.
Fiscal 2010 Guidance
Better than expected results during the third quarter of fiscal 2010 have allowed the Company to increase its earnings guidance to the range of $0.80 to $0.95 per fully diluted share, from the previously announced $0.70 to $0.85 range, for fiscal year 2010.
Despite the uncertainty in the consumer environment, we continue to perform at our growth platforms and deliver on our cost cutting initiatives, Mr. Feldenkreis continued. Although we keep trending ahead of our internal plans, we remain conservative in this uncertain environment and our current guidance reflects this.
The Company also confirmed its guidance for fiscal 2010 of total revenues decreasing in the low double digit range, but revenue growth and gross margin improvements for the remainder of the current year. Finally, the Company announced that it will provide fiscal 2011 guidance after the end of the current holiday season.
We are cautiously optimistic about fiscal 2011. Next year should see Perry Ellis International returning to a solid growth path, with gross margins expanding and operational leverage resulting from expense control initiatives executed throughout this year as well as new business initiatives. As we move along during this critical holiday season, we will provide our guidance for next year. Mr. Feldenkreis concluded.
This excerpt taken from the PERY 8-K filed Aug 19, 2009.
Fiscal 2010 Guidance
Enhanced visibility for season orders for Holiday 09 and Spring 10 have allowed the Company to provide earnings guidance in the $0.70 to $0.85 range for fiscal year 2010.
In light of better visibility of the second half of the year and our strong cost controls, we have decided to provide earnings guidance, Mr. Feldenkreis commented. Based on our first half results we remain committed to reaching an EBITDA of at least last years level.
The Company also confirmed its guidance of total revenue for fiscal 2010 to decrease in the low double digits and gross margin improvements in the second half of the year.
Although our top line remains challenged for next quarter as retailers had already committed to conservative Fall 09 plans, we expect to pick up momentum during the month of October and return to solid growth for the fourth quarter of this year, Mr. Feldenkreis continued.
Finally, the Company announced that capital expenditures will be in the $6 to $7 million range, down $1 million from the previously announced guidance of $7 to $8 million. This represents a reduction of between $3.5 and $4.5 million compared to capital expenditures of $10.5 million during fiscal 2009.
We reported a first half above analysts expectations during the most challenging economic times since the 1930s, and we are starting to see positive signs in the consumer environment. Although nobody knows with certainty if we have seen the worst of this recession, we remain confident in the financial strength of Perry Ellis International and our ability to take all necessary actions to deliver on our results. We are optimistic about the second half of this year, Mr. Feldenkreis concluded.
This excerpt taken from the PERY 8-K filed May 28, 2009.
Fiscal 2010 Guidance
The Company confirmed its guidance of a total revenue decrease in the high single to low double digits, gross margin improvements towards the second half of the year and expense reductions of approximately $15 million for the entire year.
We reported a first quarter above analysts expectations and we are beginning to see positive signs in the consumer environment. Accordingly, we are confirming our perspective for a profitable year, with improvements during the second half of the year, Mr. Feldenkreis commented. However, until the uncertainty in the macroeconomic environment subsides and the full performance of our Spring/Summer collection is assessed, we will continue our policy of not providing specific guidance ranges for the remaining of the year Mr. Feldenkreis concluded.
This excerpt taken from the PERY 8-K filed Mar 19, 2009.
Fiscal 2010 guidance
The Company announced that given the current uncertainty in the macroeconomic environment, it will temporarily suspend its policy of providing annual guidance until there is further clarity in the consumer and retail environment.
We are confident about our prospects for fiscal 2010, and remain committed to maximizing shareholder value. We have the right diversification strategy and we have taken all necessary actions to adjust our cost structure to the new economic realities, Mr. Feldenkreis mentioned.
Mr. Feldenkreis concluded, Several of our business platforms keep delivering strong results, such as swim, denim, golf, and Hispanic brands. Our penetration at all channels of distribution also continues producing positive results, and the turn around of our womens contemporary and retail platforms are well underway.
At this stage for this year, we anticipate a high single to low double digit decline in revenues, with improvement in gross margins during the second half of the year, and SG&A reduction of approximately $20 million dollars thanks to the cost reductions derived from our Strategic Review process. However, it is not prudent for us to generate expectations at this stage or commit to a firm guidance, as we need to see how the consumer reacts to governmental actions aimed at improving confidence and how our spring/summer products perform at retail. As soon as the uncertainty decreases, we will resume our annual guidance policy.
This excerpt taken from the PERY 8-K filed Nov 20, 2008.
Fiscal 2009 Guidance
The Company confirmed its previously announced fiscal 2009 earnings guidance in the range of $0.90 to $1.10 per fully diluted share, including one-time costs in the $0.10 to $0.15 range related to actions identified during the strategic review. The Company also confirmed its revenue guidance for fiscal 2009 in the $875 $900 million range.
This excerpt taken from the PERY 8-K filed Aug 22, 2008.
Fiscal 2009 Guidance
The Company confirmed its revenue guidance for the twelve months ending January 31, 2009 (fiscal 2009) at $910 $925 million.
We are confident in our ability to keep driving both top line growth and gross margin improvements for the remainder of the year, as we continue delivering on our successful branded strategy. Our Perry Ellis Collection, swim, golf, Hispanic and action sports businesses are on track for a record year, while we expect a very strong fourth quarter for our womens contemporary business, with the initial shipments for the Holiday season.
However, based on these events and increases in ongoing expenses, the Company updated its earnings guidance to the range of $1.67 to $1.72 per fully diluted share from the previously announced $1.95 to $2.00 per fully diluted share. This new range includes the $0.08 non-cash impairment charge for marketable securities incurred this quarter.
We believe our guidance is prudent yet remain optimistic regarding our outlook for the balance of the year, Mr. Feldenkreis continued. As we get a better reading of the macroeconomic issues in the second half of the year, rationalize our expenses and assess the impact of the actions undertaken in our European operations and retail, we will update our guidance accordingly. We have the right business strategy and a solid foundation to deliver strong growth and outstanding results to our shareholders now and in the future, Mr. Feldenkreis concluded.
This excerpt taken from the PERY 8-K filed May 22, 2008.
Fiscal 2009 Guidance
The Company confirmed its guidance for the twelve months ending January 31, 2009 (fiscal 2009) at $910$925 million in revenues and at $1.95$2.00 per fully diluted share.
We remain confident in our ability to sustain our positive performance throughout fiscal 2009. Strength across our platforms is providing for our near term growth and we expect our current investments in new initiatives womens contemporary, boys and retail expansionto start delivering results during the second half of the year, Mr. Feldenkreis concluded.
This excerpt taken from the PERY 8-K filed Mar 18, 2008.
Fiscal 2009 guidance
In spite of a challenging retail environment, we are confident that our growth platforms and diversified strategy will deliver another record year for our company. We anticipate continuous growth in Perry Ellis, Swim, Golf, Action Sports, Hispanic and Retail businesses plus solid performances by our recently acquired Womens Contemporary brands Laundry by Shelli Segal and C&C California, George Feldenkreis commented.
The Company announced that for the twelve months ending January 31, 2009 (fiscal 2009) it anticipates revenue growth in the range of 5 - 7% to $910 - $925 million and earnings growth in the range of 8% - 11% to $1.95 - $2.00 per fully diluted share.
We believe it is prudent to remain conservative in our business outlook for fiscal 2009, yet we are optimistic that we can expand our business in a difficult environment, given the strengths of our brands and offerings, as well as added growth from our recent acquisitions of C&C of California and Laundry. We look forward to updating you as to our progress as the year advances, Mr. Feldenkreis concluded.
This excerpt taken from the PERY 8-K filed May 15, 2007.
The Company confirmed its previously announced fiscal 2008 guidance with total revenues expected to be in the range of approximately $900 to $910 million and earnings in the range of $1.81 to $1.84 per fully diluted share.
Perry Ellis International plans to release final first quarter results for fiscal 2008 after the market closes on May 21, 2007.
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