By  on November 13, 2013

Shares of Perry Ellis International Inc. lost nearly a quarter of their value on Wednesday after the company projected a third-quarter loss and sharply cut its full-year guidance.

The Miami-based sportswear firm said it expects an adjusted loss per share of 15 cents to 17 cents for the three months ended Nov. 2, versus year-ago earnings of 25 cents a share. Analysts, on average, had expected the just-completed quarter to yield a profit of 13 cents a share.

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