Shares of Guess Inc. tumbled more than 10 percent in after-hours trading Wednesday as the company provided guidance that fell far short of analysts’ expectations even as it reported fourth-quarter results that matched estimates.
Hit by a 15.9 percent reduction in its European operating income, the Los Angeles-based denim and sportswear firm said that, in the three months ended Jan. 28, net income fell 7.2 percent to $95.9 million, or $1.05 a diluted share, identical to the analyst consensus estimate, from the year-ago level of $103.3 million, or $1.11. While down in Europe and flat in the company’s licensing segment, profitability improved for the company’s three other operating groups — North American retail, North American wholesale and Asia — as results benefited from a shift towards retail operations and an emphasis on full-price selling and inventory control.
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)
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