Guess? Drops on Q2 Earnings Results

Shares of Guess? GES are trading lower in the after-hours following the release of the company's Q2 earnings results. Currently, shares are lower by 4.63%, trading at $31.75; they ended the regular session lower by 0.48%, at $33.29. Guess? reported Q2 adjusted EPS of $0.84 on revenues of $677.2 million. Revenues increased 17.3% year over year, net earnings increased 16.7% year over year. European revenues increased 30% in US dollars and 14% in local currency; Asian revenues increased 31% in US dollars and 22% in constant dollars. Paul Marciano, Chief Executive Officer, commented, "We are pleased with our financial performance in the second quarter. Our adjusted earnings exceeded our expectations for the quarter and we delivered record revenues, with growth in all regions of the world. Our international businesses continue to drive our growth, with Europe and Asia combining to deliver 80% of this quarter's revenue increase.” “In North America, our focus on inventory control and markdown management was evident in our results, as we posted a substantial increase in our retail profitability. Overall, our results demonstrate the ability of our team to manage our business effectively and execute well on our strategic initiatives." Guess?, Inc., designs, markets, distributes and licenses apparel and accessories for men, women and children.