Perry Ellis flies after strong earnings and guidance hike

• Perry Ellis (NASDAQ:PERY) raises full-year guidance to a range of $1.68-$1.75 vs. $1.45-$1.55 prior and $1.43 consensus.
• A narrowed product line from the company is paying off with margins gains.
• The international and direct-to-consumer channels are also showing strength.
• Previously: Perry Ellis beats by $0.36, beats on revenue (May 14)
• PERY +16.4% premarket to $27.96.