Guess? stock plunges 14% on Q3 miss & weak guidance

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Guess? stock plunges 14% on Q3 miss & weak guidance
Credit: © Reuters.

Guess? (GES) shares dropped more than 14% after-hours following the company’s reported Q3 results, with EPS of $0.49 coming in worse than the consensus estimate of $0.62.

Revenue grew 3% year-over-year (up 1% in constant currency) to $651.2 million, missing the consensus estimate of $655.98M.

“We are navigating through an uncertain shopping environment in many parts of the world impacted by geopolitical issues and lower consumer confidence. Based on these factors and our recent sales trends, we are taking a more cautious view for our fourth quarter outlook and now expect to deliver net revenue growth of 2% and an operating margin of roughly 9% for the fiscal year,” commented CEO Carlos Alberini.

Q4/24 EPS is expected to be in the range of $1.53-$1.60, compared to the consensus of $1.68. For the full year, the company sees EPS at $2.67-$2.74, compared to the consensus of $2.96.

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