Guess Misses 2Q Profit Forecasts

MarketsAssociated Press

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

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

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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.

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.