Guess Reports Record 3Q
Guess? Inc. reported record net earnings of $58.3 million for the third quarter of 2008, ended Nov.3, an increase of 32% over the year ago period.
Total net revenue for the third quarter of fiscal 2008 increased 42.7% to $469.1 million. The company’s retail stores in the United States and Canada generated revenue of $210.4 million, up 17.7% from the year ago period. Same-store sales increased 15.8%.
Paul Marciano, CEO, commented, “Once again, all of our business segments delivered double-digit revenue growth and all contributed to the increase in our operating earnings. Overall, this strong performance resulted in a 32% increase in earnings and marked our 17th consecutive quarter of earnings growth. We are encouraged by these results, especially in light of today’s challenging retail environment. I believe this success is due to the great product assortment developed by our teams of designers, merchants and licensees worldwide. Based on these results and our recent sales trends, we are confident that we continue to be well positioned for the holiday selling season.”