- Guess (NYSE:GES) shares surged 7% premarket followed by Q3 earnings beat and dividend growth of 100%.
- The company saw revenue growth of 13% Y/Y and +4% vs. pre-pandemic levels.
- Results were driven by European Wholesale, Americas Retail and Licensing businesses, which posted strong top and bottom line results across the board.
- CEO comment: “We are confident in our plans for the holiday business. Our inventory position is strong, and our customers are responding well to our assortments. Based on our progress, we now expect to deliver an operating margin of 11.0% in the current year, double that of fiscal 2020, pre-pandemic.”
- For Q4, revenues to be down mid-single digits Y/Y as the impact of permanent store closures and an unfavorable shift of European wholesale shipments from the fourth quarter into the first quarter of next year are partially offset by continued momentum in global e-commerce business.
- For FY2022, revenues to be down low-single digits Y/Y vs. consensus growth of 35.64% and operating margin to reach approximately 11.0%.