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Guess Tops Street 2Q Forecasts

Guess Inc. on Wednesday reported fiscal second-quarter earnings of $18.3 million. The results surpassed Wall Street expectations.
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  • Associated Press

LOS ANGELES, United States — Guess Inc. on Wednesday reported fiscal second-quarter earnings of $18.3 million.

On a per-share basis, the Los Angeles-based company said it had profit of 21 cents.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 15 cents per share.

The clothing company posted revenue of $546.3 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $533.1 million.

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For the current quarter ending in November, Guess expects its per-share earnings to range from 8 cents to 12 cents.

The company expects full-year earnings in the range of 89 cents to $1.02 per share.

Guess shares have risen slightly more than 1 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $21.35, a fall of 17 percent in the last 12 months.

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