Guess up after board authorizes $200 mln share buyback program

Guess?

01/04/2024 12:57

** Shares of apparel retailer Guess  GES.N  up ~4% at $32.77
premarket 
    ** 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;))