Perry Ellis Intl. (PERY) reaffirms guidance and scores FusionIQ short squeeze

Perry Ellis International Inc. (PERY) scored a new FusionIQ short squeeze after the men's apparel maker reaffirmed its earnings forecast for fiscal 2009.  Perry Ellis Chief Executive Officer George Feldenkreis told investors and analysts during a conference call that the government's stimulus package and other measures to alleviate financial stress should have a positive effect into 2009 on consumers' buying power.  " At this point, we feel that the worst might be over," Feldenkreis said.  Perry Ellis yesterday said it expects profit in the range of $1.95 to $2.00 a share for the 12 months ending Jan. 31, 2009, with revenue of $910 million to $925 million.

Given the economic stimulus is most likely to find its way into the retail channel we agree that retailers such as PERY will benefit in the coming months.