Perry Ellis said experienced weather-related challenges in Q4 Says "disappointed" with FY14 results. Says customers halted spending on highly promotional key items during the competitive holiday season. Says spring readings have been positive across entire portfolio in areas where weather is warmer. Says planning Q1 "conservatively" to address calendar shift of Easter from March in 2013 to April this year. Says planning to add 75 shops throughout FY15. Says wholesale business continues to strengthen, on track to achieve over 20% growth in FY15. Says turnaround with Rafaella "under way." Says ecommerce strengthened in 2H14. Comments made on the Q4 earnings conference call.
Perry Ellis sees FY15 adjusted EPS 75c-90c, consensus 85c Sees FY15 revenue $910M-$920M, consensus $919.23M. Gross margins for FY15 should expand 50-60bps to a range of 33.7%-33.8%. The company has identified and expects to realize $9M in reductions from its expense rationalization program net of reinvestment in new businesses.