Business

Perry Ellis announces increased losses in fourth quarter

A model displays the Perry Ellis spring 2012 collection during Fashion Week in New York.
A model displays the Perry Ellis spring 2012 collection during Fashion Week in New York. AP

The Doral-based retailer Perry Ellis International announced widening losses for the quarter that ended Jan. 31.

The fashion house lost $42.9 million, or $2.90 per share, compared to a loss of $28.2 million, or $1.91 per share, in the fourth quarter of the previous fiscal year.

Annual revenues for the fiscal year also dropped to $890 million, down from $912 million during the previous year. Perry Ellis had previously reported that it expected to miss revenue targets, in part because of a slowdown at major ports on the West Coast.

In a statement released with the most recent earnings report, Perry Ellis president and chief operating officer Oscar Feldenkreis said that “the unexpected labor disputes at the West Coast ports significantly disrupted our supply chain and our ability to deliver products to customers in the fourth quarter.”

The company said it plans to continue growing international sales, which increased by 15 percent over the last fiscal year, and direct-to-consumer sales, which increased by 13 percent.

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