Perry Ellis Q2 Loss Narrows - Quick Facts

(RTTNews) - Perry Ellis International, Inc. (PERY) reported that its second-quarter net loss narrowed to $1.62 million or $0.11 per share, from $2.83 million or $0.19 per share, last year. Adjusted net loss was $1.14 million or $0.08 per share, for the quarter.

On average, five analysts polled by Thomson Reuters expected the company to report a loss per share of $0.12 for the quarter. Analysts' estimates typically exclude special items.

Total revenues decreased to $203.53 million from $211.70 million, last year. Analysts expected revenue of $209.04 million for the quarter. The company noted that its revenues were impacted by planned exits of certain private and retailer exclusive branded programs.

Gross profit improved to $70.46 million from $68.55 million. Gross margin expanded to 34.6% as compared to 32.4%, prior year. The company said the 220 basis point expansion was the product of the determination last year to focus growth on higher margin brands and higher margin channels of distribution. Gross margin expansion also reflected the impact of the company's infrastructure rationalization program, which led to reduced logistics and other costs.

The company continues to expect total revenues to be in a range of $910 to $920 million for its 2015 fiscal year. The company now expects adjusted earnings per share for fiscal 2015 in a range of $0.85 to $0.95 as compared to the previous guidance range of $0.80 to $0.95. Analysts expect the company to report fiscal 2015 earnings per share of $0.91 on revenue of $924.90 million.

Perry Ellis also announced its strategic priorities that will enable the company to maximize shareholder value by remaining focused on the strategic review of its portfolio and optimizing the positioning of brands while continuing to reduce costs.