Investors Shred Shares of Guess (GES), Guidance a Huge Disappointment
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Price: $29.55 -2.57%
Revenue Growth %: -5.0%
Financial Fact:
Interest expense: -435K
Today's EPS Names:
ANF, DXLG, FL, More
Revenue Growth %: -5.0%
Financial Fact:
Interest expense: -435K
Today's EPS Names:
ANF, DXLG, FL, More
Trade GES Now!
Shares of Guess Inc. (NYSE: GES) are trading lower by 15 percent in after-market trading on Wednesday. The company reported second quarter revenue that was above consensus at $635.4 million vs. $630.49 million expected. However, EPS was a penny short, and guidance for the third quarter was well below street estimates.
For the Q3 analyst were calling for EPS of 64c. However, Guess today said they see Q3 EPS between 42 and 46 cents, and Q3 revenue projections fell short of Wall Street estimates by whopping $45 million ($620-630 million, versus the consensus of $670.7 million).
Guess CEO, Paul Marciano said the company was "developing plans to refine our North American strategy where necessary to remain competitive." He also stressed the need for improvement in accessories. His comments offer little relief to investors still owning shares of the company, which for the moment is the least fashionable stock around.
Guess Inc. sees FY2012 EPS of $2.15-2.30, versus the consensus of $2.59 and FY2012 revenue of $2.62-2.65 billion, versus the consensus of $2.71 billion.
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For the Q3 analyst were calling for EPS of 64c. However, Guess today said they see Q3 EPS between 42 and 46 cents, and Q3 revenue projections fell short of Wall Street estimates by whopping $45 million ($620-630 million, versus the consensus of $670.7 million).
Guess CEO, Paul Marciano said the company was "developing plans to refine our North American strategy where necessary to remain competitive." He also stressed the need for improvement in accessories. His comments offer little relief to investors still owning shares of the company, which for the moment is the least fashionable stock around.
Guess Inc. sees FY2012 EPS of $2.15-2.30, versus the consensus of $2.59 and FY2012 revenue of $2.62-2.65 billion, versus the consensus of $2.71 billion.
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