Guess Q4 profit up on improved sales

Los Angeles Guess said on Wednesday that its fiscal fourth-quarter profit rose more than 80% on sales increases throughout the apparel maker's business segments.

In the three months ending Jan. 30, the company earned $86.6 million, compared with earnings of $47.9 million in the same period last year. Sales rose 14% to $642 million, from $561.1 million.

CEO Paul Marciano said the company's performance exceeded its expectations, with each business seeing improvements. He said the company also is controlling its costs and is doing well despite the economic climate.

"This was a year in which we expanded our international business, improved the profitability of our new businesses, fully restored our operating margin structure and generated strong cash flows," he said in a statement.

For the fiscal year, the company earned $242.8 million, up from $213.6 million in the prior year.

Sales rose slightly to $2.13 billion from $2.1 billion.