Business

Market movers

Fashion retailer climbs despite big loss

Guess recently held a model search in Chicago.
Tasos Katopodis/Getty Images
Guess recently held a model search in Chicago.
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Guess Inc. jumped after the retailer reported better-than-expected profit despite a significant decline over last year. Guess reported adjusted net earnings of $11.7 million for the 2014’s first fiscal quarter, a 56 percent drop over the same period in 2013. Adjusted earnings per share were 14 cents. Revenue fell 5.2 percent to $548.9 million. Revenue from operations in North America and Europe were 5 percent and 13 percent lower, respectively, while sales in Asia jumped 10 percent. CEO Paul Marciano said in the earnings “reflect the ongoing success within the company to globally streamline and improve productivity.”