Shares of Guess? (NYSE: GES), an apparel retailer offering products ranging from denim and handbags, to watches and eyewear, soared over 27% Thursday morning after the company released strong second-quarter results.
Net revenue during the fiscal second quarter increased 6% to $683.2 million, and that was up 9% if you exclude the impact of currency fluctuations. The result was better than analysts' estimates calling for $671.4 million. On the bottom line, Guess? reported adjusted earnings per share of $0.38, topping analysts' estimates of $0.29. A major driving force behind the company's strong second quarter was its Europe operations, which posted a 9.1% revenue increase, compared with a 0.9% increase in Americas and 0.6% increase in Asia.
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