Guess?, Inc. (NYSE: GES) reported better-than-expected earnings for its second quarter on Wednesday.
The company, based in Los Angeles, reported total net revenue for the second quarter of fiscal 2019 increased 13.7% to $645.9 million, compared to $568.3 million in the prior-year quarter. In constant currency, net revenue increased by 12.2%.
For the second quarter of fiscal 2019, the Company recorded GAAP net earnings of $25.5 million, a 67.8% increase compared to $15.2 million for the second quarter of fiscal 2018. GAAP diluted earnings per share increased 72.2% to $0.31 for the second quarter of fiscal 2019, compared to $0.18 for the prior-year quarter. The Company estimates that currency had a positive impact on diluted earnings per share of $0.05 in the second quarter of fiscal 2019.
Said CEO Victor Herrero, "I am pleased to report that our second quarter results finished above the high-end of our expectations for adjusted operating margin and adjusted earnings per share. Overall, total Company revenues increased 14% in U.S. dollars and 12% in constant currency, driven by continued momentum in Europe and Asia.
"The second quarter marked another quarter of operating margin expansion for the Company, with a 70-basis-point increase in GAAP operating margin and 130 basis points increase in adjusted operating margin."
Shares in GES rocketed $3.31, or 14.4%, to $26.25
