NEW YORK — Guess Inc. wrapped up 2005 on a high note by delivering a 73.2 percent profit gain on sales that rose 23.5 percent in the fourth quarter.
You May Also Like
The robust results fueled year-end profits that nearly doubled, the company said in its earnings report Thursday.
For the quarter ended Dec. 31, 2005, net income leapt to $25.8 million, or 57 cents per diluted share, from $14.9 million, or 33 cents a share, in the same period last year on sales that rose to $276.6 million from $224 million. For the year-end period, net income soared to $58.8 million, or $1.31 a share, from $29.6 million, or 66 cents, in the prior period on sales that jumped 28.4 percent to $936.1 million from $729.2 million.
The gross margin rate for the quarter gained 310 basis points to 42.6 percent. Same-store sales for the quarter showed an increase of 15.9 percent while income from operations rose by $17.3 million to $43.4 million, or 15.4 percent of sales.
Paul Marciano, co-chairman and co-chief executive officer, said in a statement that the company’s strong performance in the fourth quarter and year end reflect “the progress that we have made in all our businesses — retail and wholesale operations in North America, our European business, and domestic and international licensing.”
For complete coverage, see tomorrow’s WWD.