Perry Ellis International Reports Fourth Quarter Preliminary Fiscal 2014 Earnings
Fiscal fourth quarter revenues expected to decline 16 percent to approximately $216 million vs. $258 million last year.
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"We are extremely disappointed with our fourth quarter and full year results. We experienced a very difficult environment, which required our customers to become more aggressive with promotions and limit new orders. This contributed to much lower sales versus our projections," said Oscar Feldenkreis, president and chief operating officer of Perry Ellis International. "We expect our customers to remain cautious and have adjusted our expectations for initial delivery and replenishment orders in fiscal 2015."
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