US-based clothing retailer, Perry Ellis International, has announced its third quarter results, showing decline in total revenue from US $ 205 million last year to US $ 194 million this year. The company realized a 3.5 per cent revenue increase in its core global brands which were offset by the balance of the exit of non-core brands and the negative impact of currency exchange rates. Revenues on a constant currency basis totalled US $ 197.2 million for the quarter.
In the quarter under review, the company earned gross profits of US $ 71.1 million while its operating expenses were much higher, going up from US $ 68.3 million during the same period last year to US $ 76.4 million this year; bringing up the net losses (income) to US $ 5.2 million in comparison to US $ 2.3 million over the same period previous year.
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The apparel brand’s nine month report is equally disappointing as overall revenues dropped from US $ 685.2 million last year to US $ 657 million this year. During the period under review, the company’s gross profits showed a slight increase from US $ 239 million last year to US $ 240 million this year. However, the total operating expenses over the same period increased at much higher pace from US $ 213 million last year to US $ 226 million this year resulting in the net losses (income) of US $ 5.5 million during the period.
