Guess (GES) Falls on Weak Guidance

Shares of Guess? Inc. (NYSE:GES) plunged over 5 percent in after hours trading as the company lowered its quarterly outlook to below analysts' expectations.

Guess traded down 5.52 percent at at $41.45. The company said it expects first-quarter earnings of 41 cents to 44 cents a share and revenue of $555 million to $570 million. Analysts polled by FactSet Research currently expects per-share earnings of 62 cents on $596 million in revenue.

The company also projected annual earnings of $3.30 and $3.50 a share on revenue of $2.72 billion to $2.82 billion. Analysts were looking for $3.50 a share and $2.74 billion in sales.

For the fourth quarter, earnings attributable to Guess rose 19% to $103.3 million, or $1.11 a share, from $86.6 million, or 93 cents a share, in the last year in the same quarter. Revenue jumped to $756.9 million from $642 million the same quarter last year. Same-store sales dropped 1.1 percent.

Fourth-quarter earnings were higher than the $1.06-a-share consensus estimate. Sales also came in above the $724.5 million estimate.




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