Guess Beats 2Q Profit Forecasts

LOS ANGELES, United States — Guess Inc. on Wednesday reported fiscal second-quarter net income of $32.3 million.

On a per-share basis, the Los Angeles-based company said it had profit of 38 cents. Earnings, adjusted for non-recurring gains, came to 14 cents per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.

The clothing company posted revenue of $545 million in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $554.5 million.

Guess expects full-year earnings in the range of 62 cents to 75 cents per share.

Guess shares have fallen 21 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $14.90, a decrease of 26 percent in the last 12 months.