Guess drops 10 percent after missing expectations in quarterly earnings

Guess drops 10 percent after missing expectations in quarterly earnings


Guess shares fell more than 10 percent during after hours trading Wednesday after the clothing company missed expectations for its quarterly earnings.

The clothing brand reported earnings of 13 cents per share, while analysts predicted earnings per share of 16 cents. However, the company beat on revenue estimates of $603 million, reporting $605 million.

The company’s fourth quarter earnings per share guidance was in line with expectations. The company predicts earning 69 cents per share to 76 cents per share. Analysts expected 75 cents a share.

Comparable sales in the Americas were up 3 percent, vs. analyst estimates of 2.1 percent.

Shares are up 25 percent year-to-date. Earlier this year, Co-Founder Paul Marciano resigned as executive chairman after allegations of improper conduct made by model Kate Upton. These include inappropriate comments, text messages and unwanted advances. His brother, Maurice Marciano, was appointed in his place.



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