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Retail

Guess?… Jonesing on Weak Earnings (GES)

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By Jon C. Ogg Updated Published

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If you have never heard that investing into apparel companies is effectively a bit like investing in a new company three times a year, look no further than the reminder in shares of Guess?, Inc. (NYSE: GES) this Thursday.  The apparel maker reported earnings which were in line with estimates, but it sees a weak first quarter ahead.

The company is now calling for a first-quarter profit in a range of $0.25 to $0.28 per share and revenues were put around $575 million. Analysts are looking for $0.50 EPS and $610.35 million in revenues.  For all of 2013, Guess sees earnings of $2.50 to $2.65 per share against estimates of $3.18 per share.

Shares were down 12% initially after the earnings guidance last night and that level seems to be holding this morning with a pre-market drop on Thursday of 11.4% to $36.70.  Guess has a 52-week trading range of $25.99 to $45.73.

JON C. OGG

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About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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