Guess Inc. Reports a Healthy Q2

by MR Magazine Staff

LOS ANGELES – Guess Inc. reported second quarter earnings of $37.5 million, up 81.5 percent from last year’s $20.6 million. Revenue was up 48 percent to

$388.3 million. Same store sales were also up: 16.2 percent in North America, which CEO Paul Marciano says was the company’s 18th consecutive quarter of same store growth.

The company raised its outlook for the rest of its fiscal 2008 year, predicting earnings of $1.79 to $1.84 per share, up from earlier predictions of $1.75 to $1.80. According to the Associated Press this morning, analysts think the latest revision may be conservative.

CEO Marciano said in a statement released with the earnings: “We are very pleased with our record financial results this quarter, which reflect the continued strength of the Guess brand, the success of our ongoing investments in long-term initiatives, such as Europe, Asia, and our accessories lines, and the consistency with which we are growing our business in North America and abroad. We increased our revenues by 48 percent, as all of our businesses delivered double digit revenue increases.”