Perry Ellis International Reports Fourth Quarter Preliminary Fiscal 2014 Earnings
Fiscal fourth quarter revenues expected to decline 16 percent to approximately $216 million vs. $258 million last year.
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- To enable it to be more streamlined in the channels it currently serves,
- To redeploy resources to the businesses poised for more significant growth,
- To dedicate investment into new businesses, such as international expansion under the Original Penguin and Perry Ellis brands, as well as the expansion of golf lifestyle apparel throughout Europe lead by Callaway golf.
The company expects total revenues to be in a range of $910 to $920 million for fiscal 2015. Gross margins for fiscal 2015 should expand 50 to 60 basis points to a range of 33.7 percent to 33.8 percent. The Company expects that the infrastructure rationalization will deliver a net savings after the reinvestment of approximately 1 percent in operating margin on a full year annualized basis.
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