MIAMI, 2017-Sep-23 — /EPR Retail News/ — Perry Ellis International (NASDAQ:PERY) (“Perry Ellis” or the “Company”) today (September 20, 2017) announced that its Board of Directors has elected J. David Scheiner (“David”) as Non-Executive Chairman. Mr. Scheiner succeeds George Feldenkreis, following the termination of Mr. Feldenkreis’ position as Executive Chairman. George Feldenkreis remains a member of the Board of Directors. These changes, which are part of a multi-year leadership succession planning process, are effective immediately.
“The Board is thankful to George for his vision and leadership over the past 50 years. Both our Board and management team have significantly benefited from George’s dedication and contributions and we wish him all the best.”
Mr. Scheiner was elected to the Perry Ellis Board in June 2014. He is a veteran retailer with more than 35 years serving in senior roles at major retailers including as President and Chief Operating Officer of Macy’s Florida/Puerto Rico, from which he retired in 2009. Mr. Scheiner serves as a consultant to retail and wholesale companies, as well as investment banks and private equity companies investing in the consumer retail industry.
“David has a proven track record and will bring invaluable insight and experience to the role of Chairman,” said Jane DeFlorio, Lead Independent Director. “We have a very strong management team in place and are confident that we are well positioned to maintain our positive momentum and create shareholder value.”
Mr. Scheiner commented, “I am pleased to serve as the Chairman of the Board. With its diverse portfolio of brands, Perry Ellis has excelled throughout the years as it has adapted to the ever-changing retail environment. I look forward to continuing to work closely with Oscar and the other Board members as the Company focuses on growing its core brands, delivers superior design, quality and value directly to our consumers, and drives domestic and international growth.”
Ms. DeFlorio added, “The Board is thankful to George for his vision and leadership over the past 50 years. Both our Board and management team have significantly benefited from George’s dedication and contributions and we wish him all the best.”
Oscar Feldenkreis will remain in his position of Chief Executive Officer.
About J. David Scheiner
J. David Scheiner has served on the Perry Ellis Board of Directors since June 2014. Mr. Scheiner is a veteran retailer with over 35 years serving in senior roles at major retailers including as President and Chief Operating Officer of Macy’s Florida/Puerto Rico, from which he retired in 2009. Mr. Scheiner serves as a consultant to retail and wholesale companies, as well as investment banks and private equity companies investing in the consumer retail industry. He is also a member of the boards of The Strategic Forum as well as the Florida chapter of the National Association of Corporate Directors (NACD). For over 30 years, Mr. Scheiner has been involved with the Miami Children’s Hospital where he is a lifetime trustee, the United Way of Miami-Dade and the University of Miami Sylvester Comprehensive Cancer Center. He has also advised local mayors on business renewal efforts in the Miami-Dade area, and has served on statewide task forces for developing business growth strategies for past governors of Florida.
About Perry Ellis International
Perry Ellis International, Inc. is a leading designer, distributor and licensor of a broad line of high quality men’s and women’s apparel, accessories and fragrances. The Company’s collection of dress and casual shirts, golf sportswear, sweaters, dress pants, casual pants and shorts, jeans wear, active wear, dresses and men’s and women’s swimwear is available through all major levels of retail distribution. The Company, through its wholly owned subsidiaries, owns a portfolio of nationally and internationally recognized brands, including: Perry Ellis®, An Original Penguin® by Munsingwear®, Laundry by Shelli Segal®, Rafaella®, Cubavera®, Ben Hogan®, Savane®, Grand Slam®, John Henry®, Manhattan®, Axist®, Jantzen® and Farah®. The Company enhances its roster of brands by licensing trademarks from third parties, including: Nike® and Jag® for swimwear, and Callaway®, PGA TOUR®, and Jack Nicklaus® for golf apparel. Additional information on the Company is available at http://www.pery.com.
Safe Harbor Statement
We caution readers that the forward-looking statements (statements which are not historical facts) in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations rather than historical facts and they are indicated by words or phrases such as “anticipate,” “believe,” “budget,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “guidance,” “indicate,” “intend,” “may,” “might,” “plan,” “possibly,” “potential,” “predict,” “probably,” “pro forma,” “project,” “seek,” “should,” “target,” or “will” or the negative thereof or other variations thereon and similar words or phrases or comparable terminology. Such forward-looking statements include, but are not limited to, statements regarding Perry Ellis’ strategic operating review, growth initiatives and internal operating improvements intended to drive revenues and enhance profitability, expansion (international or domestic), licensing, the implementation of Perry Ellis’ profitability improvement plan and Perry Ellis’ plans to exit underperforming, low growth brands and businesses. We have based such forward-looking statements on our current expectations, assumptions, estimates and projections. While we believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, many of which are beyond our control. These factors include: general economic conditions, a significant decrease in business from or loss of any of our major customers or programs, anticipated and unanticipated trends and conditions in our industry, including the impact of recent or future retail and wholesale consolidation, recent and future economic conditions, including turmoil in the financial and credit markets, the effectiveness of our planned advertising, marketing and promotional campaigns, our ability to contain costs, disruptions in the supply chain, including, but not limited to those caused by port disruptions, disruptions due to weather patterns, our future capital needs and our ability to obtain financing, our ability to protect our trademarks, our ability to integrate acquired businesses, trademarks, trade names and licenses, our ability to predict consumer preferences and changes in fashion trends and consumer acceptance of both new designs and newly introduced products, the termination or non-renewal of any material license agreements to which we are a party, changes in the costs of raw materials, labor and advertising, our ability to carry out growth strategies including expansion in international and direct-to-consumer retail markets, the effectiveness of our plans, strategies, objectives, expectations and intentions which are subject to change at any time at our discretion, potential cyber risk and technology failures which could disrupt operations or result in a data breach, the level of consumer spending for apparel and other merchandise, our ability to compete, exposure to foreign currency risk and interest rate risk, the impact to our business resulting from the United Kingdom’s referendum vote to exit the European Union and the uncertainty surrounding the terms and conditions of such a withdrawal, as well as the related impact to global stock markets and currency exchange rates; possible disruption in commercial activities due to terrorist activity and armed conflict, actions of activist investors and the cost and disruption of responding to those actions, and other factors set forth in Perry Ellis’ filings with the Securities and Exchange Commission (the “SEC”). Investors are cautioned that all forward-looking statements involve risks and uncertainties, including those risks and uncertainties detailed in Perry Ellis’ filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which are valid only as of the date they were made. We undertake no obligation to update or revise any forward-looking statements to reflect new information or the occurrence of unanticipated events or otherwise.
Joele Frank, Wilkinson Brimmer Katcher
Ed Trissel / Jeffrey Kauth / Carrie Klapper
Source: Perry Ellis International