Despite the substantial fall in revenues, Guess surprisingly reported profits of $3.3 million with operating margins of 0.9%, better than its earlier guidance of -1.5% to -1%. In comparison, it had reported losses of $2.1 million in the year ago period. The significant improvement in Guess’s bottomline performance can be attributed to a weak comparable period, tight expense management, a favorable impact from segment and business mix, fewer markdowns and higher initial markups. On the other hand, negative currency headwinds and the fixed cost structure for stores generating negative same store sales had a mitigating impact.
Source Forbes - Markets http://ift.tt/1AM8e4F
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