Clothing retailer Guess Inc. shares /zigman2/quotes/204246219/composite GES -5.31% soared 7% in premarket trade Wednesday, after the company blew past estimates for its fiscal second quarter. The company swung to a loss of $20.4 million, or 31 cents a share, in the quarter to Aug. 1, after income of $25.3 million, or 35 cents a share, in the year-earlier period. Its adjusted per-share loss came to 1 cent, less than the 58 cents loss per share consensus of FactSet analysts. Revenue fell 42% to $399 million as the pandemic shuttered stores, but was also ahead of the $385 million FactSet consensus. The pandemic continued to impact the business through the quarter, Chief Executive Carlos Alberini said in a statement. "We increased product margins, ended the period with inventories down 13% compared to last year and finished the quarter with a strong balance sheet and ample liquidity," he said. The company is not offering guidance, given the uncertainty created by the pandemic, but is "well positioned" for the second half, he said. Guess has reinstated its quarterly dividend of 11.25 cents a share, to be payable Oct. 2 to shareholders of record as of Sept. 16. The company spent $39 million in the quarter to buy back its shares.