Perry Ellis Beats Profit And Revenue Expectations, And Provides Upbeat Sales Outlook

By Tomi Kilgore Markets MarketWatch Pulse

Perry Ellis International Inc. reported Thursday fiscal first-quarter net income that rose to $12.8 million, or 83 cents a share, from $14.3 million, or 95 cents share, in the same period a year ago. That beat the FactSet consensus for earnings per share of 72 cents. The apparel and accessories maker said revenue for the quarter to April 29 fell to $242.1 million from $261.3 million, but was above the FactSet consensus of $228.5 million. For fiscal 2018, the company sees adjusted EPS of $2.07 to $2.17, surrounding the FactSet consensus of $2.11, and revenue of $870 million to $880 million, which tops expectations of $864.4 million. "We are pleased to report a solid start to Fiscal 2018 with both our top and bottom line results surpassing guidance, reflecting solid growth in our core brands driven by the earlier shipment of Spring merchandise and strong gross margin expansion," said Chief Executive Oscar Feldenkreis. The stock has tumbled 27% year to date, while the S&P 500 has gained 5.3%.

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