Guess?, Inc. GES beat third-quarter earnings expectations Wednesday but provided an outlook below Wall Street's estimates.
"Going into the fourth quarter, overall trends in North America have softened compared to the third quarter," Chief Executive Paul Marciano said.
Third-quarter same-store sales, including online results, fell 4.8 percent, while store traffic and the promotional environment remained headwinds, Marciano said.
Guess forecast fourth-quarter net earnings of $0.53 to $0.63 a share, on sales of $695 million to $710 million. Wall Street expects fourth-quarter earnings of $0.69 a share, on sales of $747.1 million.
In the recent third quarter, net income fell to $20.8 million, or $0.24 a share, from $34.0 million or $0.40 a share.
Sales fell to $589.8 million, from $613.5 million a year earlier.
Analysts expected earnings of $0.18 a share on sales of $595.3 million.
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