Denim brand Guess reported record net earnings for the third quarter, thanks to a strong performance in European and Asian markets.
Net earnings rose 7.8% to $69.1m (£51.8m) in the three months to October 30, compared to the same period last year. Total sales were up 17% to a record $614m (£461m).
European sales increased 28% to $216.2m (£162.2m) while sales in Asia were up 35.1% to $54.8m (£41.1m).
Guess chief executive officer Paul Marciano, said: “Our international expansion continues to drive our growth, with Europe and Asia combining to contribute two-thirds of this quarter’s revenue increase.”
He added: “Our commitment and belief in the Guess brand and its long term potential has never been stronger. While our brand already enjoys tremendous recognition around the world, we know that there are many regions where our current business has much more potential. Our success in new international markets validates this conviction. Our strategy is to continue to invest in our brand and business, developing new markets while building the necessary infrastructure and partnerships to support our growth.”
Guess recently set out plans to open standalone stores for its kidswear range and Guess by Marciano sub-brand.
Guess will open its first kids’ store under the Guess Kidswear fascia and a first store for its Guess by Marciano label in 2011. Both are expected to be in London.
Guess had 473 stores in the third quarter, up from 433 a year ago.