Pinched by an impairment charge and lower margins and same-store sales, Guess Inc. late Tuesday posted lower fourth-quarter results, but finished the year with a stronger bottom line.
For the three months ended Jan. 31, income fell 13.2 percent to $47.9 million, or 52 cents a diluted share, from $55.2 million, or 59 cents, in the year-ago quarter. Excluding a noncash asset impairment charge of $22.3 million for long-lived assets connected with retail stores in North America and Asia, income in the current quarter would have been up 12.1 percent to $62 million, or 67 cents, which was 16 cents above analysts’ consensus estimates.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"