Please replace the release dated March 8, 2010 with the
following corrected version due to multiple revisions.
The corrected release reads:
PERRY ELLIS INTERNATIONAL ANNOUNCES
AGREEMENT TO DISTRIBUTE TOP-FLITE® GOLF APPAREL AT KMART
Perry Ellis International (NASDAQ:PERY) announced today that it
has reached an agreement with Sears Holdings Corporation
(NASDAQ:SHLD) to distribute a full collection of golf apparel under
the TOP-FLITE® brand at Kmart stores in the United States. The
TOP-FLITE brand is property of Callaway Golf (NASDAQ:ELY) and is
licensed for apparel to Perry Ellis International.
“Perry Ellis International’s unparalleled expertise in golf
apparel has opened a new avenue of growth with a great retail
partner, Kmart. We are thrilled about the new opportunities that
this relationship brings to both companies,” Oscar Feldenkreis,
President and COO of Perry Ellis International, commented.
TOP-FLITE golf apparel will be available as a men’s collection,
and will be based on performance fabrications in synthetic fibers.
The collection will include knit polos, shorts, pants, long sleeve
knits, wind wear, and fleece. It will be distributed initially at
800 Kmart doors with initial shipments starting in March of
2010.
“Golf has been identified as one of our key growth categories
going forward, and we are extremely excited about the opportunities
that lay ahead in partnering with Perry Ellis International,”
commented John Goodman, EVP of Apparel & Home for Sears
Holdings Corporation.
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 and casual pants and shorts, jeans wear, active wear 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®, Jantzen®, Laundry by
Shelli Segal®, C&C California®, Cubavera®, Munsingwear®,
Savane®, Original Penguin® by Munsingwear®, Grand Slam®, Natural
Issue®, Pro Player®, the Havanera Co.®, Axis®, Tricots St.
Raphael®, Gotcha®, Girl Star®, MCD® John Henry®, Mondo di Marco®,
Redsand®, Manhattan®, Axist® and Farah®. The Company enhances its
roster of brands by licensing trademarks from third parties
including Pierre Cardin® for men’s sportswear, Nike® and Jag® for
swimwear, and Callaway®, and PGA TOUR® for golf apparel. Additional
information on the Company is available at http://www.pery.com.
About TOP-FLITE
The TOP-FLITE® brand traces its roots to 1895 as part of the
golf business of A.G. Spalding & Bros., and has evolved into a
major division of Callaway Golf, the largest golf company in the
world. Spalding, which later became known as Top-Flite, was a
technological pioneer in the golfing industry, with innovations
beginning more than 100 years ago with the release of the Wizard,
America's first golf ball. The Wizard featured a rubber core with a
crack-resistant cover that incorporated a distinctive bramble
raised-dot pattern. Since then, Top-Flite has been responsible for
nearly every major innovation of the modern rubber-core golf ball,
including the first ball with dimples, the first ball to use
compression ratings as a means of determining ball hardness, the
first wound ball with a liquid center, and the first ball with a
tungsten energy core. Top-Flite also produces a line of matched
club sets for adult and youth players.
About Kmart
Kmart, a wholly owned subsidiary of Sears Holdings Corporation
(NASDAQ: SHLD), is a mass merchandising company that offers
customers quality products through a portfolio of exclusive brands
that include Jaclyn Smith, Joe Boxer, County Living and Route 66.
For more information visit the company's website at www.kmart.com
or the Sears Holdings Corporation website at www.searsholdings.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," "could," "may," "might," "potential," "predict,"
"should," "estimate," "expect," "project," "believe," "plan,"
"envision," "continue," "intend," "target," "contemplate," or
"will" and similar words or phrases or comparable terminology. 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, the effectiveness of our planned
advertising, marketing and promotional campaigns, our ability to
contain costs, disruptions in the supply chain, our future capital
needs and our ability to obtain financing, 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 level of consumer spending for
apparel and other merchandise, our ability to compete, exposure to
foreign currency risk and interest rate risk, possible disruption
in commercial activities due to terrorist activity and armed
conflict, and other factors set forth in Perry Ellis
International's filings with the Securities and Exchange
Commission. 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.
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