Guess? gets a bounce after beating expectations on revenue and profit

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Guess? gets a bounce after beating expectations on revenue and profit
Credit: © Reuters.

Investing.com -- Apparel maker Guess? Inc (NYSE: GES ) jumped after beating expectations for revenue, though its third-quarter outlook was below consensus targets.

The company reported adjusted earnings of 72 cents a share on revenue of $664.5 million. Analysts expected earnings per share of 40 cents on revenue of $640.5M. Revenue was up 3% from the same time last year.

CEO Carlos Alberini said: “We are very pleased with our second quarter performance, which exceeded our expectations for top line growth and delivered a significant beat in operating earnings and earnings per share for the period. Our international businesses continued to perform strongly with robust revenue growth and our Americas Retail business achieved a sequential improvement in performance compared to the first quarter, as we drove better customer conversion in stores.” 

It sees third quarter adjusted earnings per share of 55 cents to 64 cents and revenue rising 2.5% to 4.5%. Analysts expected third-quarter earnings per share of 71 cents.

For the full year, the company sees adjusted earnings per share of $2.88 to $3.08 and revenue rising 2.5% to 4.0% versus prior guidance of 2-4%.

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