Guess up after strong annual revenue forecast, quarterly results; announces new CFO

Guess?

03/04/2025 21:46

** Shares of apparel retailer Guess GES.N up ~11% at $11.10 in after-market trading

** Co forecasts annual revenue above estimates, after beating Q4 revenue and adjusted EPS estimates — data compiled by LSEG

** CEO Carlos Alberini says growth in quarter was driven by co's rag & bone acquisition, momentum in wholesale businesses in Europe, Americas and increased licensing revenues

** Sees opportunity for co's operations in China to be managed by local partner, expects transition to be completed before end of fiscal year

** However, co forecasts annual adjusted profit below analysts' estimates

** Separately, Guess announces appointment of Alberto Toni as CFO, effective from date of next quarterly results, expected mid-June

** The former Flos B&B Italia Group CFO is to replace interim CFO Dennis Secor

** Up to Thursday's close, GES has fallen 28.6%, YTD

(Reporting by Neil J Kanatt in Bengaluru)

((Neil.JKanatt@thomsonreuters.com))