US-based clothing retailer, Perry Ellis International, has announced its fourth quarter results, showing 4.7 per cent decline in total revenue from US $ 214 million last year to US $ 204 million this year.
In the reviewed quarter, company generated gross profit of US $ 78.4 million as against US $ 79.7 million in the corresponding period previous year. Operating income in this period dived from US $ 19 million from last year’s US $ 8.6 million. Net income of the company stood at US $ 8.9 million in the mentioned period.
The apparel brand’s full year report is also demonstrating the graph plunging as overall revenues dropped from US $ 864.8 million last year to US $ 825 million this year. In the above mentioned period, gross profits marginally declined to US $ 318.5 million from US $ 319 million last year. However, the operating income increased at much higher pace from US $ 6.6 million last year to US $ 22.4 million this year resulting in the net income of US $ 14.5 million during the period.
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For fiscal year 2018, the company expects total revenues in the range of US $ 870 million to US $ 880 million.
Oscar Feldenkreis, Chief Executive Officer and President, Perry Ellis commented, “Fiscal 2017 saw solid progress on our strategic plan, which led to sales growth in our core global brands, expansion in gross margin and earnings in line with guidance. While US $ 12 million in revenues were held back in the fourth quarter as certain retail partners lowered shipments in a challenging retail environment, the strength of our sell through rates enabled us to recapture the majority of these sales shipments at the start of fiscal 2018. We believe this is a testament to the power of our lifestyle brands, the strength of our design and marketing, and the disciplined execution of our strategy by our team.”