Perry Ellis International, Inc. Reports Unaudited Earnings Results for the First Quarter Ended May 5, 2018; Provides Earnings Guidance for Fiscal 2019
The Company is holding its revenue and earnings guidance for fiscal 2019. For comparability, the Company has recast its fiscal 2018 sales and earnings to remove the sales, income, and losses related to the transition of the Laundry dress business to a license model and the elimination of Bon-Ton sales due to its bankruptcy and liquidation. For fiscal 2019, the Company currently expects total revenue to be in the range of $855 million to $865 million, which compares to core business sales of $844 million in fiscal 2018. Excluding any potential expenses (which will be significant) to be incurred by the Company in connection with the Special Committee's exploration and evaluation of potential strategic alternatives and the related February 6, 2018 proposal to acquire the Company, diluted earnings per share are currently expected in the range of $1.80 to $1.90, which compares to core business adjusted diluted earnings per share of $1.70 in fiscal 2018. This earnings per share range includes a benefit of $0.05 per share due to after tax savings from the retirement of $50.6 million of Notes on May 29. When used in this section, the term core business means fiscal 2018 sales and earnings, removing any sales, income, and losses related to the transition of the Laundry dress business to a license model and the elimination of Bon-Ton sales due to its bankruptcy and liquidation.