UPDATE 1-Perry Ellis sees narrower-than-expected Q2 loss

Tue Aug 17, 2010 8:08am EDT

* Sees Q2 loss at $0.15-$0.17/shr vs est. loss $0.20/shr

* Raises FY11 EPS outlook to $1.53-$1.68

Aug 17 (Reuters) - Apparel maker Perry Ellis International Inc (PERY.O) expects to post a narrower-than-expected quarterly loss helped by margin expansion, and earn more than it had earlier forecast for fiscal 2011.

Perry Ellis, whose brands include Laundry by Shelli Segal, Cubavera and Jantzen, sees a second-quarter loss between 15-17 cents a share.

Analysts on average expect a loss of 20 cents, according to Thomson Reuters I/B/E/S.

For the fiscal year, the company, which sells its brands in department stores such as Macy's Inc (M.N) and Kohl's Corp (KSS.N), expects to earn $1.53-$1.68 a share, compared with its previous estimate of $1.45-$1.60 a share.

Analysts expect earnings of $1.61 a share.

The company, which also distributes accessories and fragrances, said it is comfortable with its fiscal year revenue outlook of $775-$795 million.

The Miami-based company's shares, which rallied 36 percent in the last six months, closed at $21.54 Monday on the Nasdaq. (Reporting by Shobhana Chadha in Bangalore; Editing by Don Sebastian)

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