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This holiday season is already looking like a winner for the strong retail brands like Perry Ellis International (PERY - Free Report) . Perry Ellis recently surprised on estimates for the 4th quarter in a row, blowing past the Zacks Consensus by 45.7%. It also raised guidance for the full year.

Perry Ellis is more than just the Perry Ellis brand. It sells apparel, accessories and fragrances under many well known names such as Jantzen, Laundry by Shelli Segal, Centro, Grand Slam, Pro Player, Tricots St. Raphael, Girl Star, Axist and Farah at many of the big department store chains such as Wal-Mart, Kohl's and J.C.Penney.

Revenue rose 13% in the Third Quarter

On Nov 17, Perry Ellis reported its fiscal third quarter 2011 results and saw revenue rise to $201.3 million from $178.6 million a year ago. The boost was due to strong performance within Perry Ellis branded businesses as well as golf, retail and bottoms.

Earnings per share were 51 cents, easily beating the Zacks Consensus of just 35 cents. It made just 31 cents in the year ago quarter.

Guidance Raised for Fiscal 2011

Given the strength of the third quarter and with ongoing optimism about the holiday season, Perry Ellis raised its full year earnings guidance to a range of $1.72 to $1.80 from its previous guidance of $1.53 to $1.68 per share.

The analysts have followed suit, with 3 out of 4 estimates moving higher in the last 7 days. This has pushed the Zacks Consensus up to $1.78 from $1.69, which is at the high end of the company's guidance range.

This is also earnings growth of 71.4%.

Fiscal 2012 isn't looking too shabby either as 3 out of 5 estimates have also moved higher in the last week with the 2012 consensus being boosted to $2.08 from $2.00 in that time. That is continued earnings growth of 16.8%.

Perry Ellis is a Value Stock

Perry Ellis is trading with a forward P/E of 14.4 which is on the edge of what I consider to be "value". But it is much cheaper than some of its competitors such as Polo Ralph Lauren (RL) and Coach (COH), which are trading at 20.4x and 19.2x, respectively.

Like Perry Ellis, those two companies also had solid quarterly results, but investors are paying more for their earnings.

Making Perry Ellis an even more attractive retail play is its price-to-book of just 0.5 which is much lower than Polo Ralph Lauren at 3.2 and Coach at 10.1.

Perry Ellis is a Zacks #1 Rank (strong buy) stock.

Tracey Ryniec is the Value Stock Strategist for She is also the Editor in charge of the market-beating Zacks Value Trader service. You can follow her at

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