For the first quarter of fiscal 2008, US-based apparel and accessories designer Guess? reported record net earnings of $35.5 million, an increase of 71.9% compared with $20.7 million for the quarter ended April 29, 2006. This represents the 15^th consecutive quarter of earnings growth at the company.

Total net revenue for the first quarter increased 42.3% to $377.9 million from $265.7 million in the prior-year period. Its retail stores in the USA and Canada generated revenue of $179.5 million in the period, a 19% increase from $150.9 million in the same period a year ago.

Wholesale revenue, which includes Asian operations, increased 77.4% to $59.2 million in the first quarter from $33.4 million in the prior-year period, while net revenue from the company's European segment increased 77.2% to $118.9 million compared with $67.1 million. Licensing net revenue increased 41.5% to $20.3 million from $14.3 million.

Commenting on the strong performance, chief executive officer Paul Marciano said, “In Europe, the addition of Focus Europe, our contemporary line, and the growth of our existing businesses drove a 77% sales increase in the segment. Strong sales performance in South Korea drove Asian revenues higher and led to a 77% increase in our wholesale segment revenues." He added, "Our North American retail business performed extremely well, posting its 17^th consecutive quarter of same store sales growth.”