Guess Inc. on Tuesday said it earned $3.3 million, or 4 cents a share, in the fiscal 2016 first quarter, reversing a net loss of $2.1 million, or 3 cents a share, for the first quarter of fiscal 2015. Revenue fell 8% to $479 million in the quarter, the retailer said. Analysts polled by FactSet had expected a loss of 5 cents a share on sales of $484 million in the quarter. Guess updated its full-year 2016 EPS guidance to a range of 86 cents a share to $1.02 a share, from a range of 75 cents a share to 95 cents a share. "Overall first quarter results were better than our expectations, mainly driven by tight expense management," Chief Executive Paul Marciano said in a statement. The company closed 11 stores in the quarter. Shares of Guess rose 1.1% in after-hours trading Tuesday, after ending the regular session up 6.2%.
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