Guess? Falls Following Q3 Earnings Release

Shares of Guess? GES are trading lower in the after-hours following the release of the company's Q3 earnings results. Currently, shares are lower by 3.27%, trading at $27.20; they ended the regular session higher by 4.19%, at $28.12. Guess? reported Q3 EPS of $0.71 on revenues of $642.8 million; revenues increased 4.7% year over year. In constant dollars, total net revenue increased 1.9%. North American Retail revenues increased 5%, while European revenues increased 2% in US dollars and decreased 4% in local currency terms. Paul Marciano, Chief Executive Officer, commented, "We are pleased to deliver third quarter earnings consistent with our expectations, even as economic pressures have intensified and are affecting consumer confidence in many of our markets, particularly in Europe. During the quarter, we made good progress on many key strategic initiatives.” “Our efforts to elevate our brand in North America are yielding significant improvements in profitability. We enjoy momentum in Asia and the newer markets in Europe where our brand is well known but where our business is still under-penetrated. And we are focusing on sound execution, managing our inventories, expenses and capital prudently." The company sees FY2012 EPS in the range of $3.04-3.10 on an adjusted basis; GAAP diluted earnings per share is expected to be between $2.85 and $2.91. Guess?, Inc. designs, markets, distributes and licenses apparel and accessories for men, women and children.