Perry Ellis & North Face own Wall Street

Friday, 17 February 2012
In Wall Street, North Face posted a 22% sales increase, while  Perry Ellis expects to report an 11% increase in total revenue to $229 million for its fourth quarter, compared to $207 million achieved during the same period a year ago.
 
"The North Face America's fourth-quarter revenue growth was the strongest we've seen all year and included strong double-digit direct-to-consumer growth in both retail and e-commerce channels," Steve Rendle, president of VF's outdoors segment in Americas, said on a conference call with investors, as reported by Reuters.
 
Global sales of North Face rose 22 percent, and the brand had comparable-sales growth in both the Americas and internationally, VF Corp said in a statement released on Thursday. Net income rose to $257.3 million, or $2.28 a share, from $54.2 million, or 49 cents a share, a year earlier. Excluding one-time times, VF earned $2.32 a share, beating the analysts' average estimate of $2.30. Sales of $2.91 billion were just above the analysts' average forecast of $2.89 billion compiled by Thomson Reuters I/B/E/S.
 
VF forecast a 2012 profit below Wall Street estimates for the current year, citing unfavorable foreign currency rates and higher pension expenses. The group, which also owns Nautica, Lee and Vans, said it expected earnings of $9.30 a share excluding one-time items this year, compared to the $9.53 expected by the analysts surveyed by Thomson Reuters I/B/E/S.
 
Elsewhere, Perry Ellis expects to report an 11% increase in total revenue to $229 million for its fourth quarter, compared to $207 million achieved during the same period a year ago. Adjusted earnings per share (“EPS”) are expected in the range of $0.35 - $0.38. Fiscal 2012 revenue is expected to approximate $980 million, an increase of 24% from the prior year. Reflecting the factors below, the group currently expects full fiscal year 2012 adjusted EPS in a range of $1.91 - $1.94. Adjusted earnings per fully diluted share exclude costs related to the early extinguishment of debt.

Finally, in London´s FTSE, in the retail sector, luxury brand Burberry slid 23p at 1,428p, while Next lost 9p at 2,755p and Marks & Spencer eased 1.15p at 344.85p.

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