Guess Profit Falls; Q4 Guidance Weak

(RTTNews) - Guess? Inc (GES) on Wednesday reported second-quarter net earnings of $18.3 million or $0.21 per share compared with $22 million or $0.26 per share last year.

The negative impact of currency on earnings in the latest quarter was about $0.10 per share.

Revenues for the quarter were $546.3 million compared with $608.6 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.15 per share on revenues of $537.6 million for the quarter. Analysts' estimates typically exclude special items.

For the third quarter, the company expects earnings of $0.08 to $0.12 per share and revenues to decline 12.5% to 11%. Analysts expect earnings of $0.18 per share and revenues to decline 7%.

For the full year ending January 2016, the company now expects earnings of $0.89 to $1.02 per share and revenues to drop 9% to 8%. Earlier it expected earnings of $0.86 to $1.02 per share and revenues to drop 8.5% to 6.5%.

Analysts expect earnings of $0.95 per share and revenues to drop 7.7% for the year.

The company announced a quarterly cash dividend of $0.225 per share.