Guess? Inc. (NYSE:GES) saw a more than 13% decline in its shares intra-day today after announcing its third-quarter results. The company reported earnings per share (EPS) of $0.49, which was below the expected $0.62. While revenue increased by 3% year-over-year (1% in constant currency) to $651.2 million, it fell short of the anticipated $655.98 million.

CEO Carlos Alberini expressed concern over the current retail climate, citing global geopolitical issues and reduced consumer confidence as influencing factors. As a result, Guess? is adopting a more conservative approach for its fourth-quarter forecast. The company now expects to achieve a net revenue growth of 2% and an operating margin of approximately 9% for the fiscal year.

For the fourth quarter of fiscal year 2024, Guess? anticipates its EPS to be in the range of $1.53 to $1.60, compared to a Street estimate of $1.68. For the full year, the company’s EPS projection is set at $2.67 to $2.74, lower than the expected $2.96.

Deja una respuesta

Tu dirección de correo electrónico no será publicada. Los campos obligatorios están marcados con *

× ¿Cómo puedo ayudarte?