Guess Shares Jump After Sales Beat

By Tonya Garcia Markets MarketWatch Pulse

Guess Inc. shares jumped 14.7% in after-hours trading after the apparel and accessories company reported first-quarter sales that beat expectations. Net loss was $21.3 million, or a loss of 26 cents per share, versus a loss of $25.2 million, or 30 cents per share, for the same period last year. Adjusted losses were 24 cents per share versus the FactSet consensus for a loss of 32 cents per share. Revenue was $458.6 million, up from $448.8 million last year and ahead of the FactSet consensus of $449.0 million. Same-store sales for the Americas, including e-commerce, was down 15%, though it increased 5% in Europe and 4% in Asia. Guess sees a second-quarter revenue increase between 2% and 4%, and both EPS and adjusted EPS of 8 cents to 11 cents. The FactSet consensus is for EPS of 13 cents. Full-year revenue is expected to increase between 3.5% and 5%, EPS is expected to be 32 cents to 42 cents, and adjusted EPS is expected to be 34 cents to 44 cents. The FactSet consensus is 51 cents. Guess shares are down 38.6% for the past year while the S&P 500 index is up 15.8% for the period.

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