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Perry Ellis raises outlook after profit beat

Perry Ellis International Inc. adjusted its outlook Thursday as it reported better-than-expected earnings but revenue missed on the sale of one of its brands and some exclusive label transitions.

Chief Executive Oscar Feldenkreis pointed to growth across the company's key lifestyle brands of Perry Ellis, Rafaella and Golf Lifestyle, as well as expansion in gross margin and expense discipline, which drove a more than fivefold increase in adjusted diluted earnings per share.

The company lifted its 2016 adjusted earnings per share guidance to the range of $1.81 to $1.88, from its previous guidance of $1.78 to $1.85. But it...