US: Guess ups retail guidance after buoyant Christmas
Clothing and accessories company Guess Inc has increased earnings guidance for its retail division after it experienced healthier than expected Christmas holiday trading.
Guess said its retail business in North America had delivered a double-digit same store sales increase for the five weeks ended 5 January - on top of another double-digit increase for the November 2007 period.
"As a result of the improved sales performance, the company is increasing revenue guidance for its retail segment for the current fiscal year to grow about 16.5% versus its previous expectations for an increase of 16%," it said.
Guess reaffirmed its previous outlook for the rest of the company for the year ending 2 February and is due to report its fourth quarter and year end results on 19 March.
Los Angeles based apparel maker Guess? Inc has posted a 35% hike in first quarter profit, driven by strong sales in Europe and Asia....
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