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Guess Reports First-Quarter Loss

Guess shares have fallen 18 percent since the beginning of the year and on Wednesday reported a loss of $21.3 million in its fiscal first quarter.
Guess store | Source: Shutterstock
By
  • Associated Press

LOS ANGELES, United States — Guess Inc. on Wednesday reported a loss of $21.3 million in its fiscal first quarter.

The Los Angeles-based company said it had a loss of 26 cents per share. Losses, adjusted for one-time gains and costs, were 24 cents per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 31 cents per share.

The clothing company posted revenue of $458.6 million in the period.

For the current quarter ending in August, Guess expects its per-share earnings to range from 8 cents to 11 cents.

The company expects full-year earnings in the range of 34 cents to 44 cents per share.

Guess shares have fallen 18 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $9.98, a decline of 39 percent in the last 12 months.

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The State of Fashion: Technology