So, how much did clothier
lose today? C'mon guess. Take a guess, because not many investors were.
Half. Guess? lost half of its value today, lately dropping $9.94 to $9.88 after warning about its third quarter. The company said it will report third-quarter earnings below expectations and that it maintains a cautious outlook over the next two quarters. The clothing manufacturer is looking to record earnings of 35 to 38 cents per share, compared to the eight-analyst estimate of a 44-cent profit.
And investors did not feel like sparing the rod today. Not to Guess? and not to the rest of the retailers in the
S&P Retail Index
, which lately fell 3.4%. Bellwether
got crushed, falling $2, or 4.1%, to $47, providing leadership, albeit in a negative direction, for the entire sector.