Guess? Jumps After Q1 Results

Retailer

released its fiscal first-quarter earnings results after the closing bell on Thursday. The company reported net earnings ahead of Wall Street estimates, but revenues that missed expectations. Guess? also gave second-quarter sales guidance above current estimates. In late trading, the stock was up a little less than 9 percent to $31.85. Guess? reported net income of $9.9 million or $0.12 per share, compared to $26.6 million or $0.30 per share, in last year's corresponding period. On an adjusted basis, net income was $11.7 million or $0.14 per share. This easily topped Wall Street profit estimates of $0.08 per share. Revenue in the quarter was down 5.2 percent to $548.91 million from $579.27 million last year. This just missed analysts' consensus revenue estimates of $550.06 million. Looking ahead to Q2, Guess? guided for EPS of $0.34 to $0.38 on revenue of $620 million to $635 million. This compares to current consensus EPS estimates of $0.36 on revenue of $618.43 million for the second-quarter.