Perry Ellis Sales Drops, Spending Doesn’t
Net income fell 10% to $12,771,000 from $14,250,000 in the first quarter ended Apr. 29 on 7% lower revenues at $242,090,000 vs. $261,294,000 that declined due to retail store closings and a planned decrease in shipments to boost margins. Gross margin expanded 120 basis points to 37.6% attributed to the disciplined management of inventory across ... Log in to view full article.
