Guess Inc. led fashion stocks lower today as investors digested the company’s third-quarter revenue miss and its sober take on the fourth quarter.
Shares of Guess fell 9.5 percent to $20.07. The jeans company on Wednesday projected fourth-quarter earnings per share of 53 cents to 63 cents, below the 69 cents Wall Street was anticipating.
Guess was followed closely by Express Inc., which was down 9 percent to $13.19 after issuing soft fourth-quarter guidance.
Investors are keeping a close eye on fourth-quarter outlooks as they gauge the mood retailers headed into the heart of the holiday season.
All told, the 100-issue WWD Global Stock Tracker inched down 0.3 percent to 107.60. That was largely in keeping with the Dow Jones Industrial Average, which backed off its record high close on Wednesday and slipped 0.1 percent to 17,000.10.
An international group of fashion and related companies with stronger performances help lessen the tracker’s losses for the day.
Among the top gainers wereYoungor Group Co., up 8.8 percent to 11.08 yuan, or $1.80; Hermès International, 4.4 percent to 284.65euros, or $350.43; Shiseido Co., 2.7 percent to 1,830 yen, or $15.28, and Shanghai Metersbonwe, 2 percent to 12.39 yuan, or $2.01.