Stock Alert: Guess? Shares Up 16%

Shares of Guess? Inc. (GES) are rising over 15% Wednesday morning, after the company reported narrower-than-expected loss and upbeat revenue for the second quarter. The stock has been trading in the range of $3.64 – $23.58 for the past one year, and is currently trading at $14.05, up $2.04 or 16.99% in the regular trading session.

The company’s Q2 GAAP net loss was $20.4 million or $0.31 per share compared to a profit of $25.3 million or $0.35 per share last year.

Adjusted net loss was $0.6 million or $0.01 per share compared to a profit of $27.4 million or $0.38 per share reported a year ago.

Total net revenue for the second quarter of fiscal 2021 decreased 41.7% to $398.5 million, compared to $683.2 million in the same prior-year quarter.

Analysts polled by Thomson Reuters expected a loss of $0.57 per share on revenue of $384.82 million for the quarter. Analysts’ estimate typically exclude certain special items.

The company expects revenues for the third and fourth quarters of fiscal 2021 to decrease in the mid-teens range.

Source: Read Full Article