Guess shares fall on earnings news
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Shares of Los Angeles clothing maker Guess Inc. fell 7.3% in late trading after the firm said annual profit would be at the low end of analysts’ estimates.
Guess shares dropped $3.90 to $49.50 in after-hours trading. The firm said annual profit would be $1.79 to $1.84 a share, compared with the average of $1.83 projected by 13 analysts.
Earnings for the second fiscal quarter, which ended Aug. 4, rose 82% to $37.5 million, or 40 cents a share, well ahead of the 34 cents projected by 11 analysts surveyed by Bloomberg News. Revenue rose 48% to $388.3 million.
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