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Foreign currency hits Guess in Q2
New York — Guess Inc. cited the negative impact of foreign currency fluctuations on earnings and sales in a difficult second quarter of fiscal 2016. Net earnings totaled $18.3 million, a 17% decrease compared to $22 million for the second quarter of fiscal 2015.
Total net revenue decreased 10%, from $608.6 million to $546.3 million. Same-store sales, including e-commerce, dropped 2.8% in the United States and Canada. In one bright spot, top-line e-commerce sales grew 20%.

