Guess? Drops on Weak Guidance

Shares of Guess? 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 earnings per share 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. 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.”