Shares of Guess?, Inc. (NYSE: GES) jumped nearly 6 percent on Wednesday, a day after the apparel and accessories maker reported a quarterly profit that beat analystsâ€™ expectations, driven by strong growth across multiple business units.
The Los Angeles-based firmâ€™s first fiscal quarter net profit rose to $35.5 million, or 38 cents a share, up 72 percent from $20.7 million, or 23 cents a share, during the year-ago period.
Revenue rose 42.3 percent to $377.9 million in the quarter.
Analysts polled by Thomson Financial had forecast, on average, a per-share profit of 28 cents on revenue of $331 million.
The company saw strong growth in sales overseas. European and Asian business rose 77 percent compared to the same period last year.
All of our businesses generated double digit revenue growth, led by strong execution in our international operations, said chief executive Paul Marciano.
The strength of our brand and the solid execution of our global strategy have driven these record results, which represented our 15th consecutive quarter of earnings growth.
Guess raised its second quarter out look to a range of 31 cents to 33 cents a share and revenue to between $335 million and $345 million.
Shares of the company were up about $2.78, or 5.9 percent, to reach $50.28 in morning trading on the New York Stock Exchange.