Guess profit beats on improving traffic, online business

(Reuters) – Apparel retailer Guess Inc
reported a better-than-expected quarterly profit as traffic
improved and the company’s online business grew.

Guess shares were up 11 percent in heavy after-market
trading on Tuesday.

Net income attributable to Guess fell to $53.9 million, or
63 cents per share, for the fourth quarter ended Jan. 31 from
$69.6 million, or 82 cents per share, a year earlier.

Revenue fell 9.3 percent to $696.7 million. Analysts on
average had expected a profit of 57 cents per share on revenue
of $704.6 million, according to Thomson Reuters I/B/E/S.

(Reporting by Ramkumar Iyer in Bengaluru; Editing by Joyjeet
Das)


Source: Newsjyoti

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