Here's Why Guess? Stock Soared Today
Shares of apparel retailer Guess? (NYSE: GES) soared on Thursday after the company reported financial results for its fiscal second quarter of 2024. As of 2:10 p.m. ET, the stock was up 25% and getting close to hitting a new 52-week high.
Q2 revenue for Guess? was up a modest 3% year over year to $665 million. The bigger achievement in the quarter, however, was the company's profitability. Its operating margin improved to 9.7%, providing it with $64.6 million in earnings from operations. And these results on the top and bottom line beat expectations, sending the stock higher.
It's hard to overemphasize how big of a surprise these results were for the company. Management's guidance included the possibility of a small drop in revenue. And it was only expecting an operating margin of 5.2% to 6%.
Source Fool.com
