Guess' profit tops Street estimates; shares rise

Reuters

Apparel retailer Guess Inc reported a better-than-expected quarterly profit, helped by a 10 percent rise in sales in Asia.

Shares of the company rose 8 percent in trading after market close.

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Total sales fell 5 percent to $549 million.

Net income fell to $9.9 million, or 12 cents per share in the quarter ended May 4, from $26.6 million, or 30 cents per share, a year earlier. Excluding restructuring charges, the company earned 14 cents per share.

Analysts on average had expected the company to earn 8 cents per share on revenue of $549 million, according to Thomson Reuters I/B/E/S.

(Reporting by Siddharth Cavale in Bangalore; Editing by Sreejiraj Eluvangal)