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Guess Inc Holiday Sales Beat Estimates

However, net income attributable to Guess in the quarter fell to $1.04 million from $6.6 million a year earlier.  
Guess store
Guess store. (Shutterstock)
By
  • Reuters

NEW YORK, United States — Fashion retailer Guess Inc reported on Wednesday quarterly revenue for the holidays season that beat analysts' estimates on strong demand in Europe and Asia, sending its shares up nearly 12 percent in extended trade.

The company said net revenue rose to $792.2 million from $674 million, a year earlier.

Analysts had expected revenue of $755.6 million, according to Thomson Reuters I/B/E/S.

However, net income attributable to Guess fell to $1.04 million, or 1 cent per share, in the third quarter ended Feb. 3, from $6.6 million, or 8 cents per share, a year earlier.

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The company's net income was impacted by a one-time charge of $47.9 million related to the recently enacted U.S. tax law.

By Nivedita Balu; Editor: Sriraj Kalluvila.

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