February 26, 2018
Net loss narrowed to $45,470,000 from a loss of $146,273,000 in the final quarter on 1% lower revenues of $570,756,000 against $573,775,000 as strong gains in international sales nearly offset the U.S. decline.
Net income for the year gained 27% to €249,688,000 ($281.5 mm) from €196,043,000 boosted by accelerating retail sales as total revenues were up 15% at €1,193,704,000 ($1,345.8 mm) vs. €1,040,311,000 with growth in all regions.
Sales increased 8% in the 14-week fourth quarter ended Feb. 3 to $266.7 million from $246.9 million in the 13-week quarter last year with a comp store sales gain of 1.6%, driven by strength in branded apparel and footwear.
PERY’s board tapped five independent directors, Joe Arriola, Jane DeFlorio, Bruce J. Klatsky, Michael W. Rayden and J. David Scheiner, to serve on a special committee to evaluate the $27.50 per share buyout offer made by former CEO George Feldenkreis earlier this month.