In the three months ended October 29, 2016, net earnings at denim retailer Guess slipped by a steep 26.8 per cent to $9.1 million as against $12.4 million in the prior fiscal’s third quarter. As a result, diluted earnings per share also dived 26.7 per cent to $0.11 for the third quarter of fiscal 2017 compared to $0.15 in the previous fiscal’s same quarter. However, total net revenue in the reporting quarter grew 2.9 per cent to $536.3 million vis-à-vis $521.0 million in the third quarter of fiscal 2016, while net sales also rose 2.9 per cent in constant currency. In the quarter under review, operating earnings dropped 27.4 per cent year on year to $15.1 million, which includes a $0.2 million unfavourable currency translation impact. Operating margin also declined 120 basis points to 2.8 per cent in the third quarter of fiscal 2017, as against 4.0 per cent in the earlier fiscal’s third quarter.
