Guess tumbles on downbeat Q3 forecast

Guess?

29/08/2024 11:14

** Shares of apparel retailer Guess  GES.N  fall 10.7% to
$10.06 premarket
    ** Co expects Q3 adj. EPS between 33 cents - 45 cents; below
Wall Street estimate of 58 cents - LSEG data
    ** Q2 adj. EPS of 42 cents missed market view of 43 cents
    ** Co posts quarterly net loss of $10.6 mln; compared with
net income of $39 mln a year earlier
    ** Brokerage Jefferies slashes target price on GES to $19
from $25 following results
    ** One of five brokerages rate the stock "buy", four "hold";
their median PT is $24
    ** Up to Wednesday's close, stock had fallen 4.5% YTD

 (Reporting by Khushi Singh in Bengaluru)
 ((Khushi.Singh@thomsonreuters.com;))