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Guess expects positive results upto Feb 2019

According to Herrero, Guess expects positive results in all regions, and profitability across all business segments for the remainder of the fiscal year, which ends Feb. 2, 2019. During the third quarter ended Nov. 3, the company recorded a net loss of $13.4 million compared to $2.9 million for the third quarter. GAAP per-share earnings were 17 cents, compared to 4 cents for the prior year. Analysts expected 16 cents per share. The company estimates that currency had a negative impact on diluted earnings per share of 2 cents for the quarter.

Revenue was $605 million, beating analyst estimates of $603 million. Same-store sales in the Americas rose 3%, beating analyst estimates of 2.1 per cent. Guess is inching closer to resolving a dispute with the European Commission, however fines have taken a toll on the retailer’s third quarter earnings. The fashion retailer has been cooperating with a European Commission investigation into whether the company violated European competition rules. It is likely to reach an agreement that is expected to result in a fine ranging from $42.4 million to $46.6 million (U.S. dollars).

 

 
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