Guess? (GES) Slammed on Weak Outlook Amid Strong Q4 Results
Guess?, Inc. (NYSE: GES) shares are getting slammed in late trading Wednesday night following strong Q413 results, but light guidance.
For Q413, EPS was 95 cents with revs of $775.8 million, compared with Street views calling for EPS of 87 cents and revs of $815.1 million. Results came in at the high-end of prior guidance calling for EPS of 85 cents to 95 cents and sales of $780 million to $800 million.
Comps fell 6.3 percent in U.S. dollars and 7.0 percent in local currency.
In the same period last year, EPS was $1.05 with revs of $775.8 million.
North America sales rose 1.9 percent to $350 million, while Asia revs rose 19.2 percent to $84.2 million. Europe saw a firm 3.2 percent gain to $300.3 million.
"Despite a difficult environment, we were able to deliver fourth quarter financial results that were at the high end of our expectations," commented CEO Paul Marciano. "We continued to direct our expansion efforts towards newer international markets, growing revenues in the double digits in key markets such as Korea, Germany, Greater China, Mexico and Russia. In North America, lower traffic and the promotional environment continued to impact our business while in Southern Europe, the weak economic conditions continue to impact consumer confidence."
Operating margin fell 2.8 points to 14.7 percent.
Looking ahead, Guess? sees Q114 EPS of 5 cents to 10 cents and revs of $545 million to $560 million, versus consensus views calling for EPS of 29 cents and revs of $590.8 million.
For fiscal 2014, Guess? expects EPS of $1.70 to $1.90 and revs of $2.6 to $2.64 billion, with the Street at EPS of $2.08 and revs of $2.63 billion.
Shares are down 6.1 percent after hours.
For Q413, EPS was 95 cents with revs of $775.8 million, compared with Street views calling for EPS of 87 cents and revs of $815.1 million. Results came in at the high-end of prior guidance calling for EPS of 85 cents to 95 cents and sales of $780 million to $800 million.
Comps fell 6.3 percent in U.S. dollars and 7.0 percent in local currency.
In the same period last year, EPS was $1.05 with revs of $775.8 million.
North America sales rose 1.9 percent to $350 million, while Asia revs rose 19.2 percent to $84.2 million. Europe saw a firm 3.2 percent gain to $300.3 million.
"Despite a difficult environment, we were able to deliver fourth quarter financial results that were at the high end of our expectations," commented CEO Paul Marciano. "We continued to direct our expansion efforts towards newer international markets, growing revenues in the double digits in key markets such as Korea, Germany, Greater China, Mexico and Russia. In North America, lower traffic and the promotional environment continued to impact our business while in Southern Europe, the weak economic conditions continue to impact consumer confidence."
Operating margin fell 2.8 points to 14.7 percent.
Looking ahead, Guess? sees Q114 EPS of 5 cents to 10 cents and revs of $545 million to $560 million, versus consensus views calling for EPS of 29 cents and revs of $590.8 million.
For fiscal 2014, Guess? expects EPS of $1.70 to $1.90 and revs of $2.6 to $2.64 billion, with the Street at EPS of $2.08 and revs of $2.63 billion.
Shares are down 6.1 percent after hours.