Perry Ellis Posts Smaller 2nd-quarter Loss

MIAMI (AP) — Apparel maker Perry Ellis International Inc. said Wednesday it posted a slightly smaller second-quarter loss helped by lower expenses, but revenue still slid in the recession as consumers scaled back on spending.

For the quarter ended Aug. 1, the loss attributed to Perry Ellis was $5.3 million, or a loss of 42 cents per share. A year ago, Perry Ellis posted a loss of $5.4 million, or a loss of 36 cents per share, when there were more shares outstanding.

Revenue declined 18 percent to $159.2 million from $193.7 million.

Analysts polled by Thomson Reuters forecast a loss of 57 cents per share with revenue of $171 million.

Operating expenses declined to $51.1 million from $64 million because of cost-cutting.

"Perry Ellis International's management has acted decisively to reduce costs and respond to the challenges created by the current macroeconomic environment," President and Chief Operating Officer Oscar Feldenkreis said in a statement.

The company said it expects to post a profit in fiscal 2010, helped by lower costs.