Guess Surges; Announces Record Third Quarter Profits

Guess?, Inc. (NYSE:GES) shares are currently trading at $48.57, a spike of 7.12% from previous closing price of $45.34. The company's shares have 52-week trading range of $51.28 – $30.535. The stock is trading at volume of 1.08 million shares. The market capitalization of the company is $4.45 billion. The 1-year target estimate is $50.00. Yesterday, the company reported its third quarter financial results 2011, with net revenues at $613.9 million, an increase of 17.4% as compared with the previous year. The comparable store sales increased 1.5% in US dollars and 0.6% in local currency as compared to the same period a year ago.  This quarter company owned and operated 473 retail stores in the United States and Canada. The company reported record net earnings of $69.1 million, a 7.8% increase compared to $64.1 million for the third quarter of fiscal 2010. The diluted earnings per share increased 8.7%, reaching $0.75 as compared to $0.69 for the prior-year quarter. This quarter demonstrated growth in all of its businesses and made significant progress on several key initiatives.  It expanded the retail presence, opening 84 new stores around the world.  The international expansion continues to drive its growth, with Europe and Asia combining to contribute two-thirds of this quarter’s revenue increase. The fourth quarter outlook includes net revenues to range from $710 million to $730 million. The diluted earnings per share are expected to be in the range of $1.02 to $1.06. GUESS? designs, markets, distributes and licenses lifestyle collections of contemporary apparel and accessories for men, women and children. Disclaimer: The assembled information distributed by epicstockpicks.com is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Epicstockpicks.com does expect that investors will buy and sell securities based on information assembled and presented herein. EpicStockPicks.com will not be responsible in any way for or accept any liability for any losses arising from an investor's reliance on or use of information obtained from our website or emails. PLEASE always do your own due diligence, and consult your financial advisor.
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