GUESS is a global lifestyle brand renowned for its trendy and innovative fashion apparel, accessories, and footwear for men, women, and children. The company designs and markets a diverse range of products, including denim, casual wear, and formal attire, appealing to a youthful and fashion-forward audience. In addition to its core clothing lines, GUESS also offers handbags, watches, and other accessories, often characterized by its distinctive logo and iconic designs. With a presence in numerous countries, GUESS aims to provide stylish and quality products that resonate with consumers, reinforcing its position in the competitive fashion industry.
Shares of contemporary clothing brand Guess (NYSE:GES)
fell 12.9% in the morning session after the company reported weak third-quarter results, with sales and earnings falling below Wall Street's expectations. The core business recorded even weaker growth as management attributed some of the top-line strength to inorganic contributions from the Rag & Bone acquisition. Some of the headwinds were attributed to a more challenging business in North America and Asia, which resulted in slow customer traffic. This caused the company to revise its fourth-quarter outlook for revenues and earnings. Consequently, full-year sales and earnings are also expected to fall short of prior forecasts, making this a challenging quarter overall.
Contemporary clothing brand Guess (NYSE:GES) missed Wall Street’s revenue expectations in Q3 CY2024, but sales rose 13.4% year on year to $738.5 million. Its non-GAAP profit of $0.34 per share was 9.1% below analysts’ consensus estimates.
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Guess?, Inc. reported lower Q2 results and cut FY25 EPS guidance below estimates. Net revenue rose 10%, but adjusted earnings fell 41.6%. The company also approved a dividend and buyback program. Q3 revenue expected to rise 14.5-16.5%, but FY25 outlook lowered due to soft consumer environment.
