Guess tops revenue estimate, shares rise

Guess tops revenue estimate, shares rise
March 21 (Reuters) - Fashion retailer Guess Inc reported on Wednesday quarterly revenue for the holidays season that beat analysts' estimates on strong demand in Europe and Asia, sending its shares up nearly 12 percent in extended trade.

The company said net revenue rose to $792.2 million from $674 million, a year earlier.

Analysts had expected revenue of $755.6 million, according to Thomson Reuters I/B/E/S.

However, net income attributable to Guess fell to $1.04 million, or 1 cent per share, in the third quarter ended Feb. 3, from $6.6 million, or 8 cents per share, a year earlier.

The company's net income was impacted by a one-time charge of $47.9 million related to the recently enacted U.S. tax law. (Reporting by Nivedita Balu in Bengaluru; Editing by Sriraj Kalluvila)

2018-03-21 22:37:03

© 2018 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.
Most read today
Most read yesterday