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Guess shares dive premarket after third quarter numbers miss Wall Street expectations

Retail revenue in the Americas fell 11%, but it was offset by increases in Europe and Asia

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In premarket trade, its shares dipped 9.36% at US$17.95.

Guess Inc (NYSE:GES) shares tanked in premarket, extending losses on Tuesday, after delivering its third quarter sales numbers that missed Wall Street’s expectations.

The designer label said on Tuesday that sales rose 3.3% to US$554mln against US$536mln a year ago.

Sales fall in Americas offset by Europe and Asia

The market consensus was for adjusted earnings of 12 US cents a share on sales of US$564mln.

Guess said that retail revenue in the Americas fell 11%, but it was offset by increases in Europe and Asia.

In premarket trade, its shares dipped 9.36% at US$17.95.

 

 

Quick facts: Guess

Price: 19.21 USD

NYSE:GES
Market: NYSE
Market Cap: $1.26 billion
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