Guess climbs after Q4 results beat estimates

Guess?

21/03/2024 10:41

** Shares of apparel retailer Guess  GES.N  jump 13% at
$29.30 premarket
    ** Co posts Q4 revenue of $891.1 mln, beating LSEG estimates
of $855.5 mln, helped by strong sales across key markets of
Europe and Asia, partly offset by slower Americas retail sales
    ** Q4 adj EPS came in at $2.01, beating analysts'
expectations of $1.56
    ** Operating margin rose 3.6% to 16.3%, from 12.7% last
year, driven primarily by higher revenues and initial markups
and lower expenses
    ** "We believe we are at an inflection point, and we expect
to exceed $3 bln in revenues (in FY25) for the first time in the
company's history" - CEO Carlos Alberini
    ** Board approved a special dividend of $2.25/share and
qtrly dividend of 30 cents/share 
    ** Brokerage Jefferies hikes PT to $29 from $24, retains
"hold" rating, says co could face continued top-line and margin
pressure from overall softer consumer demand
    ** Stock up 12.5% so far this year
    

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.Mishra@thomsonreuters.com))