Guess Shares Gain As Earnings Ahead Of Estimates

Shares of Guess Inc. rose in Wednesday's extended trade after the apparel company's adjusted earnings beat estimates. Guess said its third-quarter earnings fell to $21.5 million, or 24 cents a share, from $34 million, or 40 cents a share, a year ago. On an adjusted basis, it earned 42 cents a share, better than the 18 cents a share forecast by analysts surveyed by FactSet. Revenue slipped to $589.8 million from $613.5 million. Guess projected fourth-quarter earnings in a range of 53 cents a share to 63 cents a share, below FactSet's average of 69 cents a share. Guess shares rose 2.1% in after hours.