USA: Guess Swings Into Quarterly Loss
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.