Guess shares slip on in-line quarter, weak outlook
Guess Inc. shares slipped in the extended session Wednesday after the fashion and accessories retailer's quarterly bottom-line result was in-line with Wall Street forecasts but its outlook was on the weak side. Guess shares declined 1.7% after hours, following a 1.1% decline to close the regular session at $24.33. The company reported a first-quarter loss of $21.2 million, or 27 cents a share, compared with a loss of $21.3 million, or 26 cents a share, in the year-ago period. The adjusted loss was 23 cents a share. Revenue rose to $521.3 million from $454.3 million in the year-ago period. Analysts surveyed by FactSet had estimated a loss of 23 cents a share on revenue of $508 million. Guess estimated adjusted earnings of 27 cents to 30 cents a share for the second quarter, and 88 cents to 99 cents a share for the year. Analysts expect earnings of 30 cents a share for the second quarter and 97 cents a share for the year.
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