Business & Finance
Guess profit falls; shares slide
NEW YORK : US clothing company Guess Inc reported lower quarterly net earnings on Wednesday, hurt by a one-time settle
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The company, best known for its jeans, said net income fell to $60.7 million, or 65 cents per share, in its second quarter, compared with $66.8 million, or 72 cents per share, a year earlier.
Excluding one-time items, earnings were 84 cents per share.
Revenue jumped to $677.2 million from $577.1 million a year earlier.
Shares fell $1.48, or 4.4 percent, to $31.81 in after-hours trade following the earnings report. They had closed at $33.29 on the New York Stock Exchange.
Copyright Reuters, 2011