Originally published at www.seclive.com
Filing in Focus: Guess 8-K, March 19, 2014
Guess? Inc. (NYSE:GES) announced its financial results for the fourth fiscal quarter and full-year 2013, reporting declines in revenue. The retailer posted adjusted net earnings of $71.1M, down 12.6% from the $81.4M recorded in the year-ago quarter while annual adjusted net earnings fell 13.4% from $187.5M to $162.5M. Quarterly adjusted earnings per share fell 12.6% from $0.95 to $0.83 per share while annual adjusted earnings per share fell 11.2% from $2.15 to $1.91 per share. CEO Paul Marciano commented that the company's performance was in-line with its expectations and that North American store traffic continues to be a challenge while Europe, its largest business segment, continues to face pressure. Revenue from its smallest segment, Asia, was the only business to increase revenue for the year, from $290.7M to $292.7M.
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