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Guess Reports Record 3Q

BY CSA STAFF

Guess? Inc. reported record net earnings of $58.3 million for the third quarter of 2008, ended Nov.3, an increase of 32% over the year ago period.

Total net revenue for the third quarter of fiscal 2008 increased 42.7% to $469.1 million. The company’s retail stores in the United States and Canada generated revenue of $210.4 million, up 17.7% from the year ago period. Same-store sales increased 15.8%.

Paul Marciano, CEO, commented, “Once again, all of our business segments delivered double-digit revenue growth and all contributed to the increase in our operating earnings. Overall, this strong performance resulted in a 32% increase in earnings and marked our 17th consecutive quarter of earnings growth. We are encouraged by these results, especially in light of today’s challenging retail environment. I believe this success is due to the great product assortment developed by our teams of designers, merchants and licensees worldwide. Based on these results and our recent sales trends, we are confident that we continue to be well positioned for the holiday selling season.”

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Office Depot updates ‘green’ catalogue

BY CSA STAFF

DELRAY BEACH, Fla. Office Depot announced today that is launching the fourth edition of its fourth Green Book, a catalog of nearly 3,000 products featuring a wide range of environmental attributes.

According to the company, the new Green Book features more than 2,200 recycled or remanufactured products and 600 items with environmental benefits other than recycled, such as reduced energy, non-toxic, refillable and rechargeable, as well as other products and tips for an environmentally-conscious business.

“Year-over-year we are seeing a significant increase in the number of customers wanting to ‘green’ their purchasing practices,” said Steve Schmidt, president of Office Depot’s North American Business Solutions division. “Office Depot’s Green Book provides these businesses with a unique solution, complete with product recommendations and consultative guidance, to achieve their goals.”

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Sears chairman fires back at investors

BY CSA STAFF

HOFFMAN ESTATES, Ill. Sears Holdings chairman Eddie Lampert fired back at investors and analysts last week for their disregard of the retailer’s progression.

Lampert defended the company in a letter to employees on Friday, one day after Sears posted a 99% drop in earnings and a 3% slide in revenues for the third quarter.

“We are one of the few retail companies that have actually reduced our overall debt levels while at the same time investing over $1 billion on capital expenditures, making investments in inventory for our customers, contributing significantly to our pension plans for our past and future retirees, and repurchasing over $3 billion of our shares,” Lampert wrote in the letter, filed with the Securities and Exchange Commission.

Sears Holdings is the fourth largest retailer in the United States.

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