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Guess Q3 income up 7.8%, raises outlook
Los Angeles -- Guess said its fiscal third-quarter net income rose 7.8% to $69.1 million from $64.1 million a year ago, surpassing analysts forecasts. The company lifted its full-year earnings forecast.
Revenue for the quarter ended Oct. 30 rose 17% to a record $613.9 million, also topping predictions, with a strong boost from international sales.
The company's retail stores in North America generated revenue of $253.7 million in the third quarter, up 5.9% from the same period a year ago. Same-store sales increased 1.5%.
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Tiffany raises forecast as profits surge 27%
New York City -- Tiffany & Co. reported a 27% gain in third-quarter profit, topping analysts’ estimates, as sales rose globally. The jewelry retailer raised its full-year earnings forecast.
Net income rose to $55.1 million, from $43.3 million in the year-ago period, better than analysts had expected.