GUESS reports first quarter loss
Guess Inc. on Wednesday reported a fiscal first-quarter loss of $25.2 million, after reporting a profit in the same period a year earlier.
The Los Angeles-based company said it had a loss of 30 cents per share. Losses, adjusted for restructuring costs, came to 23 cents per share.
The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 19 cents per share.
The clothing company posted revenue of $448.8 million in the period, also falling short of Street forecasts. Five analysts surveyed by Zacks expected $463.2 million.
Guess expects full-year earnings in the range of 55 cents to 75 cents per share.
Guess shares have decreased 13 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $16.45, a fall of nearly eight percent in the last 12 months.