By  on February 25, 2014

Shares of Perry Ellis International Inc. lost more than a sixth of their value in Nasdaq trading Tuesday after the company reported preliminary fourth-quarter results that were sharply below previous guidance and analysts’ expectations.

“We experienced a very difficult environment,” said Oscar Feldenkreis, president and chief operating officer of the Miami-based sportswear firm, “which required our customers to become more aggressive with promotions and limit new orders. This contributed to much lower sales versus our projections.”

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