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Guess Results Beats Forecasts, Shares Rise

Clothes and accessories retailer Guess posted quarterly profit above analysts' expectations despite a squeeze in U.S. consumer spending and raised its full-year outlook, sending shares up 6 percent.

The company reported third-quarter earnings of $58.3 million, or 62 cents a share, compared with $44 million, or 48 cents a share, in the year-ago period. Revenue rose 43 percent to $469.1 million.

Analysts on average had expected the company to earn 58 cents a share, excluding exceptional items, on revenue of $432.7 million, according to Reuters Estimates.

For the fiscal year ending Feb. 2, 2008, the Los Angeles-based company forecast earnings of $1.93 to $1.96 a share, up from its prior outlook of $1.85 to $1.90 a share.

Guess sees revenue of $1.68 billion to $1.70 billion for the year.

Analysts were expecting earnings of $1.92 a share, before items, on revenue of $1.65 billion.

Shares of the company were trading at $46.10 in late electronic trade, after closing at $43.48 on the New York Stock Exchange.