Guess Drops on Weak Guidance
Shares of Guess (NYSE: GES) are down 6.3 percent to $28.83 after beating fourth quarter analyst estimates. The drop can be attributed to weak guidance.
The company reported an EPS of $0.83 versus $0.79 analyst estimates and revenue of $768.4 million versus $762.94 million estimates.
Guess sees a first quarter loss of $0.05 to $0.09 versus a gain of $0.11 analyst estimates.
The company raised the quarterly dividend from $0.20 to $0.225 per share.
Paul Marciano, Chief Executive Officer, said the company will stay “focused on what [Guess] can control, like inventory where trends continued to improve quarter over quarter, and expenses which declined again in the fourth quarter versus last year.”
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