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Guess? earnings fall 56% in Q1

BY Katherine Boccaccio

Los Angeles — Guess? reported Thursday that adjusted net earnings for the quarter ended May 4 plummeted 56.1% to $11.7 million, from $26.6 million in the year-ago period.

According to CEO Paul Marciano, the results were better than the company had expected.

"Despite the continued global economic challenges … these earnings reflect the ongoing success within the company to globally streamline and improve productivity,” he said.

Total net revenue for the first quarter dipped 5.2% to $548.9 million, from $579.3 million in the prior-year quarter. North American retail stores saw revenue dip 5.4% to $238.3 million; same-store sales fell 9.8%.

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Delia’s disappoints in Q1, names new CEO

BY Katherine Boccaccio

New York — Delia’s reported Thursday that its loss more than doubled year-over-year, as the multichannel retailer lost $9.2 million in the quarter ended May 4, compared with a loss of $4.3 million last year.

Revenue slid 15% to $35 million, and same-store sales fell 7.1%. Amid the disappointing results, the company has appointed Tracy Gardner as CEO, effective June 5, moving over from his current position as COO.

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Fred’s Q1 profit rises 9%

BY Staff Writer

Memphis — Fred’s Inc. said Thursday that profit for the quarter ended May 4 rose 9% to $11.4 million, from $10.5 million last year. Results topped Wall Street forecasts.

Revenue edged up to $501.5 million from $500.5 million, beating analysts’ estimated $499.5 million in revenue. Same-store sales dipped 1.3%.

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