Guess is an American clothing brand reports its Q2 earnings for FY17 which saw an increase of 76.4 per cent as against the second quarter of fiscal 2016. Diluted earnings per share too soared 81 per cent for the second quarter compared to the earlier fiscal’s second quarter. During the quarter, Guess saw gains from sale of a minority interest investment of around $22.3 million. Excluding the gain from the sale of the minority interest investment, adjusted net earnings were $12 million and adjusted diluted earnings per share were $0.14 dollars during the second quarter of fiscal 2017.

In the quarter under review, net revenues however, fell marginally to $545 million vis-a-vis $546.3 million in the fiscal ago quarter, while they rose 0.5 per cent in constant currency terms. Operating margin in the second quarter of fiscal 2017 also declined 190 basis points to 2.9 per cent versus 4.8 per cent in the corresponding period of the previous fiscal.“Operating margin fell mainly due to higher expenses, driven by retail expansion and the negative impact from currency exchange rate fluctuations, partially offset by lower charges related to legal matters.