Times haven’t been easy for companies in the apparel industry lately, and Guess? (GES) in particular has struggled to hold its own in an increasingly competitive environment. The retailer posted a surprise profit for the quarter and more importantly, it boosted its outlook for the remainder of the fiscal year as well. A look at Guess? and its quarterly results show the headwinds that the apparel industry faces right now. Overall revenue fell by more than 8% to $478.8 million which was about a percentage point worse than the contraction that investors had expected to see. On the earnings front, though, Guess? managed to earn $3.3 million, which works out to $0.04 per share.
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