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Guess?   Americas retail revenues dropped 4.1 percent

Guess? Q4 profit down, revenues up

GuessShares of Guess slipper over 10 percent on extended hours on Wednesday after the apparel retailer reported a fourth-quarter earnings and revenues that missed Wall Street expectations.

Guess' fourth-quarter plunged to $6.6 million or $0.08 per share from $47.8 million or $0.57 per share last year. Adjusted earnings for the quarter were $34.6 million or $0.41 per share.

READ MORE Guess? Q2 profit increased to $32.3 million

Revenues for the quarter increased 3.2 percent to $679.3 million from $658.3 million last year. Analysts had a consensus revenue estimate of $685.98 million for the quarter.

Americas retail revenues dropped 4.1 percent, while wholesale revenue decreased 2.4 percent. For the quarter, revenues at European business segment gained 9.2 percent, while Asia revenues increased 4.9 percent.

Victor Herrero, Chief Executive Officer, commented, "Despite continued softness in the Americas, we are pleased to report that fourth quarter revenues for the company were up 3%, driven by strong double digit growth in both Europe and Asia."

The company plans to close 60 stores in fiscal 2018 in the Americas.

The company declared a quarterly dividend of $0.225 per share, payable April 13 to shareholders of March 29.

Looking forward to the first quarter, Guess expects loss per share of $0.33 to $0.30 per share and revenues to increase between 2 to 4 percent. Analysts currently estimate loss of $0.16 per share and revenues to increase 1.5 percent.

For the full year, Guess expects revenue growth of 4 to 6 percent and earnings of $0.28 to $0.40 per share. Analysts currently estimate earnings of $0.64 per share on revenue growth of 3.9 percent for the year.

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