Retail Roundup: Guess stock swoons on disappointing 3Q results; Lands' End rallies
Guess? Inc (NYSE:GES) posted fiscal third-quarter results late Wednesday that missed Wall Street’s earnings expectations. The Los Angeles-based company posted earnings per share of $0.70 on revenue of $837.1 million, which beat on revenue but fell short on earnings. Analysts had predicted an average of $0.75 EPS on revenue of $831 million. This quarter, Guess? projects losses between $0.25 and $0.29 per share, nearly twice the expected loss.
Guess? has left investors with more than a few doubts, sending hshares down more than 15% to $18.63.
G-III Apparel Group Ltd (NASDAQ:GIII) saw earnings of $0.55 per share on revenue of $766.8 million, beating Street expectations Thursday morning. Analysts projected an average of $0.42 EPS on revenue of $767.9 million. Going forward, the New York-based company whose brands include Donna Karan and DKNY expects EPS between $0.15 and $0.25 on revenue of $650 million, compared with expectations of $0.27 EPS on revenue of $647.8 million.
Shares were heating up, advancing 6.6% to $37.15.
Lands’ End (NASDAQ:LE) announced fiscal fourth-quarter results Thursday featuring $0.50 EPS on revenue of $502 million. That handily beat Street expectations of $0.41 EPS on revenue of $475 million. Same-store sales for the Dodgeville, Wisconsin-based company increased 9.1%.The retailer of outdear-wear has seen success since distancing itself from the demise of fallem retail icon Sears Holdings Corp (NASDAQ:SHLDQ).
The shares jumped in the pre-market but fell 1.4% to $16.97 after the opening bell.
Contact Andrew Kessel at [email protected]
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Story by ProactiveInvestors
Source: https://www.proactiveinvestors.com/companies/news/216957/retail-roundup-guess-stock-swoons-on-disappointing-3q-results-lands--end-rallies-216957.html
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