Perry Ellis-company overview
One of Perry Ellis’ current strategic priorities includes focusing on “high performing, high growth brands and businesses.” Investors’ sentiment has increased from 1.24 in the second quarter of 2017 to 1.34 in the third quarter of 2017. Over the past year, the company has appointed a new Non-Executive Chairman and new Interim Chief Financial Officer. Below, I will provide an overview of Perry Ellis, including its current strategic priorities, investors’ sentiment, changes in senior management roles, and other major news.
CURRENT STRATEGIC PRIORITIES
Perry Ellis has revealed a series five strategic priorities to enhance profitability.
2. Strengthening its strategic brand position in the menswear space through the wholesale, retail and licensing of its core brands.
3. Expanding worldwide distribution via direct investments in North America and Europe along with developing strategic partnerships with licensees and other partners.
4. Enhancing the direct-to-consumer channel, which included a focus on in-store conversion.
5. Driving operational efficiencies through “process enhancements, inventory management, and sourcing improvements.”
An extensive search does not reveal any articles that mentioned investors' views on Perry Ellis’ strengths and weaknesses. However, investors’ sentiment has increased from 1.24 in the second quarter of 2017 to 1.34 in the third quarter of 2017. Several institutional investors have increased its holdings in shares of Perry Ellis in the third quarter of 2017. North Star Investment Management has increased its stake by 20.96% by buying 18,375 shares. Adams Express Company has increased its stake by 45.1% (additional 16,100 shares), and Prudential Financial has increased its stakes by 19.7% (additional 26,370 shares).
CHANGES IN SENIOR MANAGEMENT ROLES
Over the past year, Perry Ellis did not reveal any changes to its strategies. However, there were two major changes in senior management roles.
In September 2017, Perry Ellis announced that J. David Scheiner would replace George Feldenkreis as Non-Executive Chairman. Scheiner was elected to the Board in June 2014. Feldenkreis would remain as a member of the Board of Directors.
In November 2017, the company announced that Jorge Narino would be promoted to Interim Chief Financial Officer. Before this appointment, he was the Senior Vice President of SEC Financial Reporting. He replaced David Rattner, who has left the company to pursue other opportunities.
Please note that there are no changes to the company’s Chief Human Resources Officer and President. According to his LinkedIn profile, Lystra Nottingham has been Perry Ellis’ Chief Human Resources Officer since November 1998. Oscar Feldenkreis is company’s CEO and President since April 2016.
OTHER MAJOR NEWS
In April 2017, Perry Ellis announced that it has entered into an agreement with “Sector Apparel Group for the distribution of An Original Penguin by Munsingwear men’s apparel in South Africa, Namibia, Botswana, and Swaziland.” This partnership is in-line with the company’s “strategic initiative to expand its global reach.” In September 2017, Perry Ellis introduced the “Ask Perry Ellis” Amazon Alexa skill, which was created to help guys figure out what to wear for the events on their calendar. This was in-line with the company’s “big push on digital and the use of technology to drive deeper consumer engagement.”
In September 2017, Perry Ellis announced that it had signed an exclusive global licensing agreement for Guy Harvey apparel. As part of the deal, the company would contribute one percent of sales from Guy Harvey apparel to the Guy Harvey Ocean Foundation.
In October 2017, Perry Ellis announced that it had signed a licensing agreement with “NMNY Group, LLC for day and social occasion dresses under the Laundry by Shelli Segal and Laundry by Design trademarks in the USA and Canada.” The Laundry by Shelli Segal collection includes categories such as outerwear, fashion accessories, and intimates. In December 2017, Perry Ellis announced several initiatives to celebrate its 50th anniversary. The initiatives included a contest where the winner would receive a Valentine's trip to Miami, allowing new Customer Rewards Loyalty Program registrants to be automatically upgraded to Gold Level status, and partnering United Way's Operation Helping Hands to provide donations, food, and resources to help those in need during the holiday season.