Clothing designer and marketer Guess Inc on Thursday announced plans to axe an undisclosed number of jobs and shut unspecificed facilities as it warned of a full-year loss.

The news came as it posted a third quarter net income of $3.4 million, or eight cents per share, including a litigation settlement that added six cents per share, versus net income, including restructuring charges of $1.3m, or three cents per share, in the year ago-period.

Guess said it sees a full-year loss of 2-5 cents per share and will close some corporate facilities and unprofitable stores that will lead to a fourth quarter charge of between $6.4m and $7.7m, or 15-18 cents a share.

Third quarter revenues slipped 8.5 per cent to $157.8m from $172.4m in 2001 and it said October same-store sales would fall slightly.

President and COO, Carlos Alberini, said in a statement: "Our third quarter operating performance was negatively impacted by lower sales in our retail and wholesale businesses.

"As we continue to face challenging conditions across the retail sector, we are focusing on closely managing our inventories, maintaining a strong capital structure and taking steps to further reduce expenses.

"I believe that the actions we are announcing today will help to ensure Guess is best positioned within the current environment and reinforce our foundation for the future."