Perry Ellis, G-III shares likely to rise: Barron's
NEW YORK (Reuters) - Shares of Perry Ellis International (PERY.O) and G-III Apparel (GIII.O) are likely to rise this year, barring a deep economic recession, fueled by good management, strong finances and a healthy outlook for their brands, according to business weekly Barron's.
In its March 17 edition, the newspaper said both stocks have fallen about 45 percent from their yearly highs, hurt like many other retailers, even though they are looking at earnings growth of roughly 10 percent for Perry Ellis and 25 percent for G-III.
Even as sales of women's clothing declined 2.3 percent in 2007, sales of men's apparel clothes rose 2.4 percent, the story notes, citing NPD Group data.
"That trend bodes well for Perry Ellis International, a wholesaler and retailer specializing in menswear, and it's one the Miami company's chairman and CEO, George Feldenkreis, expects to continue," the story said.
G-III's profits are likely to keep growing as it expands its non-outerwear business, the paper said.
(Reporting by Franklin Paul)
