Shares of Guess Inc. moved lower in after-hours trading Wednesday as the Los Angeles-based sportswear firm posted better-than-expected second-quarter earnings but provided Wall Street with third-quarter guidance that fell short of analysts’ estimates.
In the three months ended July 30, net income attributable to Guess fell 9.1 percent to $60.7 million, or 65 cents a diluted share, from $66.8 million, or 72 cents, in the prior-year period. Excluding the expected $19.5 million impact of a pending settlement charge with an Italian logistics service provider, EPS came in at 84 cents, 3 cents better than the consensus estimate of analysts.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)