Perry Ellis Shares Trade Higher Following Q2 Results

Perry Ellis International, Inc.

reported better than expected adjusted EPS and revenue for the second quarter sending the stock higher in the pre-market trading. The company incurred a net loss of $3.565 million, or a loss per share of $0.24, wider than a net loss of $1.28 million, or a loss per share of $0.09, in the year-ago quarter. On an adjusted basis, its EPS would have been $0.15, down from $0.31 in the comparable period. This was significantly higher than the Street estimates of $0.01 a share. Perry Ellis' total revenues fell from $213.3 million to $201.65 million and came in above the analysts' predictions of $197.68 million. "We are pleased to report revenue and adjusted earnings per diluted share above guidance driven by the strength of our authentic brands, our commitment to innovation and product excellence combined with the continued success of our five point growth and profitability plan," commented CEO, Oscar Feldenkreis. Going forward, the company maintained its adjusted EPS outlook of $1.95 - $2.00 for the fiscal year 2017 on revenue forecast of $885 - $890 million. Analysts' are looking for an EPS of $1.98 on revenue of $912.54 million. Shares of the company traded higher by $0.49, or 2.30 percent, to $21.75 in the pre-market trading on Thursday.