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Guess profit falls 9.1% on charge
San Francisco -- Guess reported Wednesday that profit for the second quarter dipped 9.1% on a hefty settlement charge.
The retailer said that net income fell to $60.7 million from $66.8 million, as it was hit by a $19.5 million settlement charge.
Revenue for the quarter rose 17% to $677.2 million from $577.1 million, beating analysts’ estimates.
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Express Q2 profit falls 43%, but beats Street
Columbus, Ohio -- Express reported Wednesday that profit for the second quarter fell 43% to $12.6 million, compared with $22.1 million in the year-ago period. Results still topped Wall Street expectations, and the company has upped it s forecast for the third quarter and full year.
Revenue rose nearly 10% to $446 million from $407.3 million, beating analysts' average forecast for $439.6 million in revenue. Same-store sales rose 6%.