Guess Shares Jump More Than 10%

Shares of Guess INC. rose more than 10 percent in the early moments of after-hours trading Wednesday after the firm reported a smaller decline in fourth quarter net profits than analysts had expected. The results came as a fracture developed in what had appeared to be a quiet public relationship between Paul and Maurice Marciano, chief executive officer and non-executive chairman of the company, respectively, and their brother and former partner Georges Marciano, who brought suit against the company in a Montreal court. In the three months ended Jan. 31, the Los Angeles-based jeanswear and sportswear company reported net income of $53.9 million, or 63 cents a diluted share. The EPS figure was 6 cents above the analysts’ consensus estimate while the net income figure was down 22.6 percent from the $69.6 million, or 82 cents, delivered in the final quarter of fiscal 2013. Total revenues contracted 9.3 percent, to $696.7 million from $768.4 million, and dropped 4 percent on a currency-neutral basis. “Currencies will definitely be a headwind if they stay at current levels,” said Paul Marciano. “But, as always, we will remain focused on what we can control, like our North America retail estate realignment, providing a unique customer experience within our

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