Guess rises after board approves $200 mln share buyback program

Guess?

01/04/2024 15:52

(Updates)
    ** Shares of apparel retailer Guess  GES.N  rise as much as
5.1% to $33.09 in early trade — highest since Dec 5, 2013    
        ** Stock headed for fourth straight session of gains if
current levels hold     
    ** Co says board approved new $200 mln share repurchase
program on March 25
    ** Announces issuance of ~$12.1 mln of additional 3.75%
convertible notes due 2028
    ** Says it intends to retire about $14.6 mln of its existing
convertible senior notes due 2024 and to use cash on hand to
repurchase about 326,429 shares of its common stock for ~$10.3
mln and to enter into the bond hedge and warrant transactions
    ** YTD, stock up 36% as of last close

 (Reporting by Juveria Tabassum in Bengaluru)
 ((Juveria.Tabassum@thomsonreuters.com;))