Guess Shares Jumps After Profit Beats Expectations

Shares of Guess Inc. shot up 12% in after-hours trade Wednesday, after the apparel and accessories company beat fiscal fourth-quarter profit expectations. For the quarter ended Jan. 31, earnings declined to $53.9 million, or 63 cents a share, from $69.3 million, or 82 cents a share, in the same period a year ago, but were above the FactSet consensus of 58 cents a share. Revenue fell 9.3% to $696.7 million, missing the FactSet consensus of $704 million, with sales declining in all of its geographic segments. The company expects a fiscal first-quarter per-share loss in the range of 6 cents to 3 cents and full-year EPS of 75 cents to 95 cents, compared with the FactSet consensus for a loss of 3 cents and EPS of $1.04, respectively. The stock has lost 21% so far this year through Wednesday's close, while the S&P 500 has gained 2%.