Guess? Down 10% on Weak Q1 Guidance

Guess?

is trading lower on the session following its Q4 earnings announcement yesterday. The company reported EPS of $1.05 vs $1.05 estimate and revenues of $775.80 million vs $778.83 million estimate.Guess? also guided Q1 EPS $0.25-0.28 vs $0.47 estimate. Paul Marciano, Chief Executive Officer of Guess?, said, "We are pleased to deliver fourth quarter earnings consistent with our expectations, even as economic pressures impacted consumer confidence in some of our markets. These results mark the end of a year in which we made significant progress on important initiatives that support our long-term objectives. We leveraged the global momentum of the Guess? brand, opening 261 new stores during the year, and increased revenues in all segments. We reached the $1 billion revenue mark in Europe for the first time and gained significant traction in Northern and Eastern Europe, where we are developing a strong market presence. South Korea and China continued their double digit growth and in North America, we succeeded in elevating the Guess brand, which drove significant profit improvements in that region." Guess? is currently trading at $33.00, a loss of $3.70 or 10.08%.