Guess?, Inc. (NYSE:GES) reported a year-over-year decrease in third-quarter adjusted EPS results on Tuesday.
Guess posted quarterly adjusted earnings of 34 cents per share, down from 49 cents per share in the year-ago period. The company's sales rose to $739.0 million from $651.1 million a year ago.
Paul Marciano, Co-Founder and Chief Creative Officer, commented, "This year we have made significant investments for Guess in new product introductions and increased marketing campaigns, and the customers have responded well. We have also invested in developing our new rag & bone and Guess Jeans brands, adding distribution capacity for both domestically and internationally. Our focus is to create strong brand awareness and increase customer engagement while offering amazing products and a great customer experience. I am excited about our collection this season and believe we are well positioned for this important time of the year."
Guess said it sees FY25 earnings of 70 cents to 82 cents per share, and adjusted earnings o f $1.85 to $2.00 per share
Guess shares fell 5.3% to trade at $16.41 on Wednesday.
These analysts made changes to their price targets on Guess following earnings announcement.
- UBS analyst Mauricio Serna maintained Guess with a Neutral rating and lowered the price target from $18 to $16.
- Small Cap Consumer Research analyst Eric Beder maintained Guess with a Buy rating and cut the price target from $29 to $23.
- Telsey Advisory Group analyst Dana Telsey maintained the stock with a Market Perform rating and lowered the price target from $21 to $18.
Considering buying GES stock? Here's what analysts think:
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