Guess earnings indicates strength for retailers

Filed under: Major movement, Earnings reports, Forecasts, Good news

It is no secret that the recession took its toll on retailers, and Guess Inc. (NYSE: GES) was no exception. For the past three quarters the apparel retailer has posted lower year over year earnings, but the company broke the trend today posting third quarter earnings that were higher than the same period last year.

The stock is trading sharply higher in after hours trading after the company posted 69 cents per share, which was in-line with analyst estimates. While the 69 cents was not able to beat out analyst estimates, it did mark a 2 penny increase over the 67 cents that it reported for the same period last year, and marked a record for third quarter earnings for the company.

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Guess earnings indicates strength for retailers originally appeared on BloggingStocks on Mon, 30 Nov 2009 18:30:00 EST. Please see our terms for use of feeds.

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