Port Issues Linger as Perry Ellis Q4 Loss Grows

Perry Ellis International Inc. expects the impact of West Coast port disruptions to continue throughout the first quarter because of the persistent backlog of containers at the docks. The Miami-based sportswear firm reported fourth-quarter and full-year results that were largely consistent with the update it gave on business conditions on Feb. 17, when it reported that $23 million in orders couldn’t be delivered in the fourth quarter because of the port delays. During a conference call to discuss the results, company executives said they expect the delays to be resolved by late May, prior to Father’s Day. “In order to mitigate the lateness caused by the port closures, we have redirected a significant portion of our inbound shipments to the East Coast and anticipate that our deliveries will be back on schedule by the second quarter” of the current fiscal year, said Anita Britt, chief financial officer. RELATED CONTENT: WWD Earnings Tracker >> In the three months ended Jan. 31, the company’s net loss grew to $42.9 million, or $2.90 a diluted share, from a loss of $29.2 million, or $1.91, in the 2013 quarter. Excluding costs associated with a variety of strategic initiatives aimed at focusing the company on its core brands, as well

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