Los Angeles -- Guess Inc. on Wednesday reported that its second-quarter profit fell to $42.9 million, from $60.7 million a year ago. The company also lowered its full-year earnings outlook.
Total net revenue for the quarter ended July 28 fell 6.2% to $635.4 million, from $677.2 million.
The company’s retail stores in North America generated revenue of $253.0 million in the second quarter, down 3.1% from $261.1 million in the same period a year ago. Same-store sales fell 8.5%.
Net revenue from the company's Europe segment decreased 14.5% to $246.9 million in the second quarter. Net revenue from the company's Asia segment increased 20.9% to $66.8 million.
Guess CEO Paul Marciano n