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Friday, March 19, 2010
Guess Q4 beats estimates, raises dividend
Reuters
Apparel brand Guess Inc's (GES.N) fourth-quarter results topped estimates, as fewer discounts helped margins during the holiday quarter, and the fashion house saw demand in Europe rise.
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Guess also increased its quarterly dividend by 28 percent.
"More than half of the revenue increase (for the quarter) was driven by business in Europe which posted a 24 percent top line increase," Chief Executive Paul Marciano said on a conference call with analysts.
Guess, best known for its jeans, also said this year it will reignite plans for growth and invest in retail expansion, and that the company is looking to replicate its success in Europe in Asia.
"While European expansion is important to their story, the opportunities I see exist in Greater China," analyst Brian Sozzi of Wall Street Strategies said.
Link to full article: http://www.reuters.com/article/idUSTRE62G4IJ20100317?type=globalMarketsNews
Posted by Brian Sozzi, Research Analyst
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