Reuters: Global Markets: Guess sees third quarter profit below Street, shares fall

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Guess sees third quarter profit below Street, shares fall Aug 22nd 2012, 20:36 Wed Aug 22, 2012 4:36pm EDT (Reuters) - U.S. clothing maker Guess Inc (GES.N) forecast current-quarter results below analysts' expectations after weak performance in North America and Europe put pressure on second-quarter profit, sending its shares down 14 percent in extended trade. The company said it expects to earn between 42 cents and 46 cents per share, on revenue of $620 million to $630 million. Analysts on average expected the company to earn 64 cents per share on revenue of $670.7 million, according to Thomson Reuters I/B/E/S. Second-quarter profit fell to $42.9 million, or 49 cents per share, from $60.7 million, or 65 cents per share, a year earlier. The company, which designs, markets, distributes and licenses apparel and accessories, said sales fell 6 percent to $635.4 million. Analysts on average were expecting earnings of 50 cents per share, on revenue of $630 million, according to Thomson Reuters I/B/E/S. Shares of the company fell to $28.81 in after-market trade. They closed at $33.54 on Wednesday on the New York Stock Exchange. (Reporting by Arpita Mukherjee in Bangalore) Link this Share this Digg this Email Reprints

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