Guess? (GES) Misses Q1 EPS by 5c; Enters $175M Accelerated Buyback

Guess? (NYSE: GES) reported Q1 EPS of $0.24, $0.05 worse than the analyst estimate of $0.29. Revenue for the quarter came in at $593 million versus the consensus estimate of $584.39 million.

Entered Into $175 Million Accelerated Share Repurchase Arrangement

GUIDANCE:

For the second quarter of fiscal 2023, assuming no meaningful COVID-related shutdowns, we expect revenues to be up around 1% in U.S. dollars (8% in constant currency) versus the second quarter of fiscal 2022 and operating margin to reach approximately 7.5%.

For the full fiscal year 2023, assuming no meaningful COVID-related shutdowns, we expect revenues to be up around 4% in U.S. dollars (10% in constant currency) versus fiscal 2022 and GAAP and adjusted operating margins to reach approximately 10.1% and 10.3%, respectively.

For earnings history and earnings-related data on Guess? (GES) click here.

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