Diamonds and Dogs
11/13/13Perry Ellis International Inc. (PERY)
Perry Ellis is not looking nicely dressed today, down 22.96% at $15.00. The apparel designer saw its shares crash after lowering its guidance for the second half of 2014. Perry Ellis management now sees full-year adjusted EPS of $0.95-$1.01 on revenue of $960 million-$970 million, well below its prior view of $1.50-$1.60 and $985 million-$995 million. According to the company, "the reduction reflects the impact of third quarter of fiscal 2014 along with the private label reduction for the mid-tier channel as well as direct retail sales for the remainder of the year." Shares of Perry Ellis fell to a new 52-week low of $14.96 intraday.
Potbelly Corporation (PBPB)
Investors are going to want a Potbelly today, with shares up 9.02% at $29.50. The sandwich shop company saw its shares take off after better than expected earnings. For the third quarter, Potbelly announced a 25% increase in profit or $0.15 per share on revenue of $78 million. Analysts' were expecting the company to have an EPS of $0.09. For the full year, the sandwich chain expects adjusted net income of $7.5 million-$8.1 million, based on $300 million-$303 million in revenue. Shares of Potbelly crept near their 52-week high of $33.90 earlier today.
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