Clothing retailer Guess? Inc has reported retail sales for the month of May which ended on May 27th 2006.
Total retail sales for May were $50.3 million, an increase of 26.8 percent from sales of $39.7 million for the month ended May 28th 2005. Comparable store sales for the May period increased 20.0 percent.
The retail sales and margin performance for the 2006 second quarter-to-date has been stronger than the company anticipated. Also, the company's worldwide licensing and European businesses have performed ahead of expectations quarter-to-date.
Based on these trends, it now expects total revenues for the second quarter to increase nearly 25 percent from last year's levels, versus previous expectations for an increase in the high teens. It also expects gross margins and SG&A expense performance for the period to improve from previously expected levels.
The net impact of the changes in guidance should result in a net earnings improvement over previous guidance for the second quarter in the range of $2.5 million to $3.2 million, or $0.05 to $0.07 per share.
Guess? Inc designs, markets, distributes and licenses a lifestyle collection of contemporary apparel, accessories and related consumer products. It owns and operates 319 retail stores in the United States and Canada. It also distributes its products through better department and specialty stores around the world.
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