Guess shares spike after earnings, same-store sales beat estimates
Guess Inc. shares soared 14.2% in Wednesday after-hours trading after the apparel and accessories company reported fiscal second-quarter earnings and same-store sales that beat consensus. Net income for the quarter totaled $32.3 million, or 38 cents per share, up from $18.3 million, or 21 cents per share, for the same period last year. Adjusted earnings were 14 cents per share, beating the FactSet consensus of 6 cents per share. Sales totaled $545.0 million, down from $546.3 million, and below the $551.0 million FactSet consensus. Same-store sales for the Americas retail segment, including e-commerce, fell 2%, compared with the FactSet estimate of a 4.3% decline. Guess expects third-quarter sales to increase between 5% and 8% and earnings per share in the range of 11 cents and 16 cents. FactSet sees revenue totaling $568.5 million, about 9% higher than $521.0 million last year. And the FactSet third-quarter EPS consensus is 16 cents per share. Guess stock is down 25.6% for the past year while S&P 500 Index us up nearly 15% for the same period.
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