Guess Misses 2Q Profit Forecasts

Markets Associated Press

Guess Inc. (GES) on Wednesday reported fiscal second-quarter net income of $22 million.

Continue Reading Below

The Los Angeles-based company said it had profit of 26 cents per share.

The results missed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 28 cents per share.

The clothing company posted revenue of $608.6 million in the period.

For the current quarter ending in October, Guess expects its per-share earnings to range from 15 cents to 20 cents.

The company also released its full-year outlook. It expects annual earnings to be in the range of $1.05 to $1.20.

Continue Reading Below

Guess shares have decreased 17 percent since the beginning of the year. At the close of trading on Wednesday, shares were trading at $25.64 a fall of slightly more than 5 percent in the last 12 months.