Guess? Swings to Profit

Specialty retailer Guess? ( GES) said Thursday it swung to a second-quarter profit from a loss a year ago as sales rose 17.6% on strong licensing and wholesale business.

The company earned $2.1 million, or 5 cents a share, compared to a loss of $5.4 million, or 13 cents a share, in the year-earlier period. Latest-quarter results included a restructuring, severance and impairment charge of 5 cents a share.

Analysts were calling for a profit of a penny a share.

Sales rose to $154.1 million from $131 million a year ago, with same-store sales up 15.1%. Retail store sales surged 20.5% to $115.2 million, while wholesale revenue rose 6.3% to $29.3 million.

Licensing revenue rose 22% to $9.6 million, Los Angeles-based Guess? said.

Shares of Guess? closed up 26 cents, or 1.8%, at $15.02 Thursday. The stock has more than doubled in the past 52 weeks.

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