Business

August 21, 2014

Perry Ellis’ second quarter net loss narrows

Perry Ellis International on Thursday reported a second quarter loss of $1.6 million, or 11 cents net loss per share, compared to $2.8 million, or 19 cents net loss per share, in the second quarter of last fiscal year.

Perry Ellis International on Thursday reported a second quarter loss of $1.6 million, or 11 cents net loss per share, compared to $2.8 million, or 19 cents net loss per share, in the second quarter of last fiscal year.

Revenue declined by 4 percent to $204 million, compared to $212 million reported last second quarter. The company said revenues were hurt by planned exits of certain private and retailer exclusive branded programs. However, increases in golf lifestyle apparel and Original Penguin offset reductions in women’s sportswear.

Doral-based Perry Ellis, which designs, distributes and licenses men’s and women’s apparel, accessories and fragrances, said it has focused its growth on higher margin brands and higher margin channels of distribution. It also has reduced its logistics and other costs, leading to improvement in its gross margin.

During the second quarter, Perry Ellis said it also executed eight new license agreements and continued to make progress in its international expansion.

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