RTTNews | Nov 24, 2021 10:39AM EST

10:39 Wednesday, November 24, 2021 (RTTNews.com) - Shares of clothing brand and retailer Guess', Inc. (GES) are rising more than 14% Wednesday morning following third-quarter results. The company also doubled its quarterly dividend.

For the third quarter, the company recorded net earnings of $29.9 million, a 13.3% increase from $26.4 million for the third quarter of last year.

EPS for the quarter increased 9.8% to $0.45 from $0.41 last year.

Excluding items, the company reported earnings of $0.62. that beat the consensus estimate of analysts surveyed by Thomson Reuters at $0.46 per share.

Revenue for the third quarter increased 13% to $643.1 million, from $569.3 million in the year-earlier period.

Guess' declared a quarterly dividend of $0.225, an increase from $0.1125, to be payable on December 24, 2021 to shareholders of record as of the close of business on December 8, 2021.

GES is at $24.36 currently. It has traded in the range of $15.65- $31.12 in the last one year.

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