Perry Ellis sales and profits decline in Q2 as company remains optimistic

Performance of the Perry Ellis and Rafaella businesses offset positive trends in golf, women’s contemporary and direct-to-consumer, leading Perry Ellis International to a quarterly loss for the period ending July 30th. President and CEO Oscar Feldenkreis predicted improvement in the lagging businesses beginning with the holiday season, with the full impact felt in 2013. The Perry Ellis brand is scheduled for a fall 2012 introduction of their collaboration with Duckie Brown during New York market week in September.

The company reported a net loss of $2.4 million for the second quarter of fiscal 2013, or 17 cents per share, compared to net income of $1.8 million, or $0.11 per share in the second quarter of fiscal 2012. Total revenue decreased 2.3% to $209.4 million. Feldenkreis said that the company is streamlining operations and concentrating on their larger, more important brands, in order to realize cost savings. Among the other positive trends, inventory levels have declined by 21 percent, and the company showed significant increases in both their retail and online businesses.

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