Guess Shares Surge on Earnings

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Shares in Guess Inc. climbed 5 percent early Wednesday after the clothing retailer topped Wall Street expectations with its third quarter results.


Guess reported net income of $58 million (62 cents per share), a 33 percent surge from the same period a year earlier, thanks mainly to strong sales overseas at its stores in Europe and Asia. Analysts polled by Thomson Financial were looking for profit of 57 cents per share.


The Los Angeles-based retailer also reported a 43 percent jump in revenue to $425 million with same-store sales up 16 percent company-wide. The results also topped Wall Street’s expectations of $425 million.


The strong performance prompted a handful of analyst upgrades.


Shares in Guess were up $2.13 to $45.61 in trading Wednesday on the New York Stock Exchange. Shares in Guess have surged nearly 50 percent so far this year.

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