Perry Ellis fades on wider second-quarter loss
Shares of Perry Ellis International, Inc. (Nasdaq:PERY) are losing ground after the retailer posted a wider-than-forecasted net loss for the second quarter. The company said a shift in revenue from the second quarter to the third quarter, bankruptcies of certain retail customers in the quarter and increased costs and reduced shipments related to the company’s move to third-party distribution from its facility in Winnsboro all converged to drag down results.
Shares slipped 13%, or $3.00, to $20.00 ahead of the opening bell. For detailed price information and news stories on Perry Ellis, click PERY.
