Perry Ellis International's full year results missed the mark for shareholders today, as shares traded flat in pre-market trading after the company reported a loss in its full year results.
The fashion designer, which is well-known for sportswear, reported a net loss of $7.3m (£5.1m) for its full year ended January 2016, narrowing the gap compared with its loss the year before of $37.2m.
Meanwhile, the company announced revenues for its full year of $899.5m, up one per cent compared with $890m the year before.
For its fourth quarter of 2016, Perry Ellis pulled in total revenues of $214.4m, down from $217.7m the year before, and made a net loss of $17.7m, closing the gap compared with $49.9m the year before.
"During the year, we recorded growth in core brands, in licensing, and our international business, underscoring the global appeal of our brands and supporting our margin expansion," said Oscar Feldenkreis, president and operating chief of Perry Ellis. "As previously discussed, while fiscal 2016 presented the industry with challenges driven by a soft consumer spending environment and a stronger US dollar, we adapted to meet the changing landscape and ended the year positioned to generate higher margin revenues in the year ahead.
"I firmly believe that our focus on building our core brands, discipline and agility along with our powerful brands and proven growth initiatives will enable Perry Ellis International to deliver continued long-term profitable growth and value creation for our shareholders."
The company also reported that licensing revenues increased nine per cent during the year, which was in doubt helped by 26 new licences being signed in the period.
Meanwhile, international sales grew by nine per cent and now represent 13 per cent of the total revenues.
Shares in the company were trading flat at $17.84 in pre-opening trading.