Guess posted higher-than-expected Q2 losses

By: Miguel A. Rodriguez

09:45, 14 September 2020

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Guess resumed dividend payments

The American clothing brand and retailer, Guess published #Q2 #earnings that were below the estimates. 

Guess reported a loss per share of 31 cents, for a total of $20.4 million. During the same period last year, it had an income of $25.3 million, or 35 cents a share. 

Due to the pandemic that caused stores to close, Guess revenue fell 42% to $399 million. The actual figures were ahead of the $385 million estimated. 

The company didn’t provide any further guidance, “given the uncertainty created by the pandemic, but is well positioned for the second half.” Moreover, Guess reinstated the $11.25 per share quarterly dividends. The dividends are payable on October 2. During the past quarter, the company bought back shares worth $39 million. 

Following the report, during the pre-market #trading session, Guess stock price added more than 25%. 

Sources: seekingalpha.com, marketwatch.com


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