said Thursday its second-quarter earnings jumped an unexpectedly strong 95% from last year, reflecting inventory shifts that resulted in wider margins for the designer jeans seller.
The retailer said it earned $4.2 million, or 9 cents a share, for the quarter, up from $2.1 million, or 5 cents a share, recorded in the same quarter last year. Wall Street analysts were expecting earnings to decline to 3 cents a share, according to consensus estimates reported by Thomson First Call.
On the top line, the company said its total revenue climbed 15.7% to $178.2 million, up from last year's $154.1 million. Its retail business brought in $132.9 million, a 15.3% increase over last year, and its same-store sales, or sales at stores open for at least a year, rose 4.2% for the quarter over last year.
Meanwhile, net revenue from its wholesale operations increased 3.5% to $26.1 million; revenue from its European operations rose 146.3% to $9.9 million; and revenue from its licensing segment rose 3% to $9.3 million.
"We controlled expenses effectively and operated with leaner inventories in North America, which contributed to higher margins in our wholesale segment and a better transition into the important back to school selling period in our stores," the company said. "Our retail business and the licensing segment had solid results based on strong customer response to our product and our new contemporary line, Marciano, is performing ahead of plan."
Guess? was operating 301 retail stores at the end of the quarter, up from 264 stores at the same time last year.
Its shares were recently up 49 cents, or 2.2%, to $23.05 in after-hours trading. They added 1.2% during regular trading hours.