Top Performer for Wed: Perry Ellis (PERY)

Perry Ellis International, Inc. (PERY - Snapshot Report), one of 6 companies from the Textile-Apparel industry on today's Zacks #1 Rank List, is a Top Performer on Wednesday with a share gain that is around 8%.

At 146,000 shares, volume is right around its daily average of 153,000.

There hasn't been a lot of news out of the company since its fiscal second-quarter report in August, but earnings estimates, nonetheless, continue to show the advance in response to those numbers. (The company was also featured as a Zacks #1 Rank Top Performer on Aug 25 after the announcement.)

PERY is a leading designer, distributor and licensor of a broad line of high quality men's and women's apparel, accessories and fragrances.

The other 5 Zacks #1 Rank companies from its industry are Phillips-Van Heusen Corporation (PVH - Snapshot Report), G-III Apparel Group Ltd. (GIII - Snapshot Report), Guess?, Inc. (GES - Analyst Report), Jones Apparel Group, Inc. (JNY - Snapshot Report) and Maidenform Brands, Inc. (MFB - Snapshot Report).

Earnings Estimates

The Zacks Consensus Estimates for the fiscal years ending January 2010 and January 2011 are 87 cents and $1.10 per share, respectively. That marks gains of 21% in each on those periods over the past 2 months from 72 cents and 91 cents. There are 5 analysts covering each period for PERY.

(The next fiscal year has also enjoyed a gain of nearly 3% in the past 30 days.)

At the moment, analysts are expecting profit growth of more than 26% next fiscal year over this fiscal year.

Fiscal Second Quarter

PERY decreased operating expenditures by $12.9 million in its fiscal second quarter, helping the company report a loss per share that was narrower than the consensus.

"As consumer confidence returns and the macroeconomic environment stabilizes, we will emerge leaner, stronger and focused on taking advantage of all available opportunities, stated Chairman/CEO George Feldenkreis."

PERY lost 42 cents in the quarter, but the Zacks Consensus Estimate had called for a loss of 57 cents; marking a positive surprise of more than 26%.

Total revenues, though, were down 17.8% to $159.2 million, versus $193.7 million a year earlier.

For fiscal 2010, PERY expects a profit of 70 cents to 85 cents per share. It also reaffirmed its guidance for a total revenue decrease in the low double digits.