Guess Earnings Up 35% in May

Los Angeles Guess? Inc. reported net earnings of $47.8 million for the first quarter of fiscal 2009. This is an increase of 35% compared to net earnings of $35.5 million for the same quarter ended May 5, 2007.

Total net revenue for the first quarter of fiscal 2009 increased 29.4% to $489.2 million, up from $377.9 million in the prior-year quarter. The company's retail stores in North America generated revenue of $211.9 million in the first quarter of fiscal 2009, an 18.1% increase from $179.5 million in the same period a year ago.

Same-store sales increased 7.0% for the first quarter compared to the same period a year ago. This represents its 21st consecutive quarter of same-store sales growth in North America.

Net revenue from the company's wholesale segment, which includes the company's Asian operations, increased 26.9% to $75.1 million in the first quarter of fiscal 2009, from $59.2 million in the prior-year period.

Net revenue from the company's European segment increased 50.2% to $178.7 million in the first quarter, compared to $118.9 million in the prior-year period.

Licensing segment net revenue increased 15.7% to $23.5 million in the first quarter of fiscal 2009, from $20.3 million in the prior-year period.