Guess Clothing Shares Rise on Profit Forecast Beat

Guess shares were higher Thursday after the company easily beat second-quarter profit forecasts but missed sales estimates.
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Guess (GES) - Get Report shares were higher Thursday after the company easily beat second-quarter profit forecasts but missed sales estimates. The company posted earnings of $0.14 a share, that was double what analysts were expecting. But, revenue of $545 million was just a little below what Wall Street was anticipating. 'I had highlighted on our prior earnings calls that the first six months of the year would be a transition period,' said CEO Victor Herrero in a statement. 'This transition is now behind us and the investments we have made so far are expected to start generating revenue growth for the Company in the third quarter, accelerating into the fourth quarter.'

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