Weakness in southern Europe outweighed strength in new markets and its North American retail operations as Guess Inc. reported lower third-quarter profits that fell short of analysts’ expectations.
In the three months ended Oct. 29, the Los Angeles-based apparel marketer registered a 4 percent decline in net income, to $66.3 million, 71 cents a diluted share, from $69.1 million, or 75 cents, in the year-ago period. Analysts on average had expected earnings per share of 73 cents.
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?"