By Sabela Ojea
Guess on Wednesday said it swung to a first-quarter loss, with revenue declining due to lower sales in the Americas’ region.
The clothing brand and retailer had a loss for the three months ended April 29 of $11.8 million, or 22 cents a share, compared with a profit of $7.97 million, or 12 cents a share, for the same period a year earlier.
Stripping out one-time items, loss per share was 7 cents. Analysts polled by FactSet had forecast a significantly wider adjusted loss per share of 28 cents.
Revenue declined to $569.8 million from $593.5 million a year earlier, but came in ahead of analysts expectations for $555.6 million.
Americas’ retail and wholesale sales dropped 14% and 25%, respectively. European sales rose 2%, while sales in Asia climbed 26% in the period.
Shares are up 2.4% to $17.78 in after-hours trading.
Write to Sabela Ojea at [email protected]; @sabelaojeaguix
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