US: Guess? lifts Q4 outlook
Guess?? Inc substantially lifted its fourth-quarter guidance on Thursday (18 January) based on across-the-board sales and margin strength.
The Los Angeles-based wholesale, retailer and licensor of denim and other sportswear said that it expects earnings per share for the quarter ended 31 December to hit between 91 and 93 cents (US) a share, up from earlier guidance of between 65 and 67 cents.
If realised, the new projection would lift full-year EPS to $2.60 to $2.62, versus an earlier projection of $2.34 and $2.36.
"We are very pleased with the momentum across all of our businesses and geographic regions of the world, which reflects the strong global acceptance of the brand," said Paul Marciano, chief executive.
"Our strategy to execute a diversified and balanced business continues to be our top priority, resulting in profitable growth as we expand globally."
Fourth-quarter results will be released 14 February, the company said.
By Arnold J Karr.
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