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Guess profits surge to USD3.3m in Q1
(MENAFN) Guess reported profits of USD3.3 million during the first, above a loss of USD2.1 million during the same period in 2014, as analysts had predicted a loss of 0.05 for the quarter, FxPro reported.
However, the Los Angeles-based upscale clothing brand and retailer's better than expected quarterly earnings coincided with lower revenue and a subdued outlook for the remainder of the year.
Guess chief executive officer (CEO) attributed the strong quarter to improvements in the company's women's line as well as gains with its e-commerce sales.
"Overall first quarter results were better than our expectations, mainly driven by tight expense management. In North America, we saw improvements in the women's category," CEO said.
However, the Los Angeles-based upscale clothing brand and retailer's better than expected quarterly earnings coincided with lower revenue and a subdued outlook for the remainder of the year.
Guess chief executive officer (CEO) attributed the strong quarter to improvements in the company's women's line as well as gains with its e-commerce sales.
"Overall first quarter results were better than our expectations, mainly driven by tight expense management. In North America, we saw improvements in the women's category," CEO said.
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