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Guess Tops 3Q Profit Forecasts

Guess Inc. on Tuesday reported fiscal third-quarter earnings of $12.4 million. The results beat Wall Street expectations.
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  • Associated Press

LOS ANGELES, United States — Guess Inc. on Tuesday reported fiscal third-quarter earnings of $12.4 million.

The Los Angeles-based company said it had net income of 15 cents per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 11 cents per share.

The clothing company posted revenue of $521 million in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $521.7 million.

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For the current quarter ending in January, Guess expects its per-share earnings to range from 53 cents to 62 cents.

The company expects full-year earnings in the range of 93 cents to $1.02 per share.

Guess shares have declined slightly more than 7 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $19.54, a decrease of 14 percent in the last 12 months.

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