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Guess Misses 4Q Profit Forecasts

Guess Inc. on Wednesday reported fiscal fourth-quarter earnings of $47.8 million. The results did not meet Wall Street expectations.
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  • Associated Press

LOS ANGELES, United States — Guess Inc. on Wednesday reported fiscal fourth-quarter earnings of $47.8 million.

The Los Angeles-based company said it had profit of 57 cents per share.

The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 58 cents per share.

The clothing company posted revenue of $658.3 million in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $654.7 million.

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For the year, the company reported profit of $81.9 million, or 96 cents per share. Revenue was reported as $2.2 billion.

Guess expects full-year earnings to be 65 cents to 85 cents per share.

Guess shares have climbed 13 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $21.32, a climb of 27 percent in the last 12 months.

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