Guess (GES) PT Lowered to $12 at Jefferies Following 4Q Miss
Jefferies lowered its price target on Guess (NYSE: GES) to $12.00 (from $15.00) while maintaining a Hold rating. GES reported 4Q revenue of $679.3M vs cons. of $688.9M, and EPS of $0.41 vs. cons. of $0.44, both below expectations.
Analyst Randal Konik commented, "GES delivered a 4Q miss on both the top- and bottom-line, as weakness in the USA continues to weigh on the business. We are encouraged by mgmt's commitment to store footprint reductions and rent negotiations domestically while diverting capital to Europe/Asia where growth and profitability are more visible and sustainable. Maintain Hold, PT to $12."