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Morning Outlook

Perry Ellis to Exit Noncore, Low-Growth Brands

By Morning OutlookFOXBusiness

Perry Ellis says it plans to exit low-growth brands and businesses. The company is undergoing a strategic review, and it’s been trying to focus more on its Perry Ellis, Rafaella Sportswear and golf lifestyle businesses. Perry Ellis also reported a second-quarter loss of $0.08 per share, four cents less than expected. The company’s reported revenue of $203.5 million for the quarter missed estimates.

Trans World Entertainment posted a wider second-quarter loss compared to a year ago.  The specialty retailer lost more than $5 million, or $0.16 per share.  Its revenue slid 11% from last year to nearly $72 million, while its same-store sales fell 3.4%.

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LSI Industries reported mixed results for its fourth-quarter. The LED lighting manufacturer lost $0.01 per share, compared to an expected profit of $0.03.  Revenue climbed 7% to nearly $74 million, beating expectations.

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