Guess Stems Losses, Loses Sales in Challenging First Quarter
Guess beat analysts' estimates on its bottom line, even as first-quarter sales dropped at a faster rate than expected. On its top line, though, revenue slipped nearly 5% to $523 million.
Guess beat analysts' estimates on its bottom line, even as first-quarter sales dropped at a faster rate than expected. The accessories retailer reported a net loss of 3 cents a share, narrower than an expected net loss of 7 cents a share. On its top line, though, revenue slipped nearly 5% to $523 million, just under forecasts. A potential boon to future revenue, the L.A.-based designer maintained strong momentum in its e-commerce business, generating sales growth of almost 50% in its North American markets. The company also guided for full-year earnings between $1.40 and $1.60 a share, inline with analysts' consensus.
