NEW YORK — The Salant acquisition as well as gross margin erosion pushed Perry Ellis International Inc. to an expected loss in the second quarter.
For the three months ended July 31, the Miami-based multiportfolio sportswear marketer reported a net loss of $2.6 million, or 33 cents a diluted share. By comparison, last year the company had profits of $2.2 million, or 34 cents. Adjusting for the effect of the Salant acquisition in both years, the second-quarter loss would have been 11 cents versus year-ago earnings of 89 cents.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"