Jeans and apparel producer Guess Inc on Thursday revealed it swung into a loss during the second quarter and slashed its full-year outlook.

The California-based company said in the 13 weeks to June 29, it lost $6.4 million, or 15 cents per share, versus net income of $1.5m, or three cents per share, in the year-ago period. Net revenue plunged to $119.8m from $151.7m.

Guess said in a statement that July same-store sales were likely to fall in the low to mid-single digits, with second half revenue expected to slip five per cent. It added it sees full year earnings per share of 4-8 cents, including 8-10 cents profit in the current quarter and 19-21 cents profit in the fourth quarter.

President and COO, Carlos Alberini, commented: "Guess?' performance for the second quarter reflects the continuing weakness in the retail marketplace. Within this environment, we are managing our inventories and costs very carefully, and, although overall results were lower, our efforts are contributing to improved gross profit margins in our retail business.

"In looking to the second half, while we expect conditions to remain challenging ... (and) we see good opportunities for growth and margin expansion."