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Guess Misses Third Quarter Profit Forecasts

Guess Inc. on Wednesday reported fiscal third-quarter net income of $9.1 million.
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  • Associated Press

LOS ANGELES, United States — Guess Inc. on Wednesday reported fiscal third-quarter net income of $9.1 million.

The Los Angeles-based company said it had profit of 11 cents per share.

The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 14 cents per share.

The clothing company posted revenue of $536.3 million in the period.

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Guess expects full-year earnings in the range of 42 cents to 52 cents per share.

Guess shares have dropped 19 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $15.32, a decrease of 22 percent in the last 12 months.

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