Los Angeles -- Guess Inc. saw profit in the third quarter dip 3.4% to $35.4 million, from $36.6 million for the third quarter last year. Results, however, surpassed company expectations.
"We are pleased to report better than expected third quarter earnings. We delivered revenues within the range of our expectations and through our continued focus on cost control have been able to deliver profitability at the high end of our expectations,” said Paul Marciano, CEO.
Third-quarter sales fell 2.4% to $613.5 million, from $628.8 million in the prior-year quarter. In constant currency, total net revenue decreased 4.1%. Same-store sales dropped 5%.