- Guess (NYSE:GES) has slid 13.2% postmarket after adjusted profits grew 12.8% but fell short of expectations amid a drop in Europe, and the company issued downside guidance for the current quarter and year.
- Revenues rose 5.7% -- in constant currency, they rose 9.5% -- and adjusted net earnings grew to $48.2M.
- Operating margin (GAAP basis) fell 70 basis points to 8% mainly due to higher distribution costs in Europe and lower product margins in Asia.
- Revenue by segment: Americas Retail, $269.3M (down 1%); Americas Wholesale, $43.2M (up 19%); Europe, $371.3M (up 4%); Asia, $131.95M (up 22%); Licensing, $21.4M (up 10%).
- Operating earnings by segment: Americas Retail, $23.8M (up 45); Americas Wholesale, $8.2M (up 62%); Europe, $40.7M (down 28%); Asia, $4.7M (down 48%); Licensing, $18.6M (up 7%).
- For Q1, it's expecting EPS of -$0.25 to -$0.29, below consensus for -$0.14. For fiscal 2020, it expects EPS of $1.09-$1.21 vs. consensus of $1.38.
- Previously: Guess misses by $0.05, beats on revenue (Mar. 20 2019)
- Press release