By  on November 30, 2011

Weakness in southern Europe outweighed strength in new markets and its North American retail operations as Guess Inc. reported lower third-quarter profits that fell short of analysts’ expectations.

In the three months ended Oct. 29, the Los Angeles-based apparel marketer registered a 4 percent decline in net income, to $66.3 million, 71 cents a diluted share, from $69.1 million, or 75 cents, in the year-ago period. Analysts on average had expected earnings per share of 73 cents.

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