The Los Angeles-based company reported net income of $23.2 million, or 70 cents per share on an adjusted basis, on revenue of $837.1 million, which was up from the $792.2 million last year. Analysts, however, were expecting earnings of 75 cents per share on revenue of $831 million.
"Looking forward, I plan to spend the next few weeks with our team developing our strategic vision and implementation plan. I intend to apply some key principles for shareholder value creation, including a disciplined approach to capital allocation and working capital management, careful product development and distribution, pursuing global initiatives to leverage and support our global business more effectively and, most importantly, placing the customer at the center of everything we do," said CEO Carlos Alberini.
For the current quarter, the company expects to lose between 25 cents and 29 cents per share, about double the loss that analysts were expecting for the period. For the year, Guess? expects to earn between $1.09 and $1.21 per share.
Analysts are expecting the company to earn $1.40 per share.
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