Guess (NYSE:GES) posted a mixed set of Q4 FY’22 results. While revenue grew by about 23% year-over-year to $800 million, coming in below estimates, adjusted earnings stood at about $1.14 per share, roughly in line with estimates. However, the company’s adjusted operating profit margins came in better than expected at 15.7%.
Revenue growth was likely held back by the spread of the omicron variant of Covid-19 which hurt store traffic. However, margins benefited from higher markups, lower discounting, and lower occupancy costs.
Guess stock jumped almost 9% in Thursday’s trading as investors were likely pleased with the company’s strong margins, which came despite rising inflation.
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