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Guess Raises 2017 Guidance, Shares Surge After Hours

After the close on Wednesday, Guess?, Inc. (NYSE: GES) reported Q2 adjusted EPS of $0.14 compared with expectations of $0.07. Sales were $545.00 million versus $550.53 million.

  • American Retail revenues decreased 3 percent.
  • European revenues increased 7 percent.
  • Asia revenues decreased 6 percent.
  • American Wholesale revenues decreased 8 percent.

Guess' Q3 EPS is expected to be $0.11 to $0.16 versus estimates for $0.16. Revenues are expected to be $596.935 million to $613.990 million.

The company's outlook for FY 2017 was raised to $0.62-$0.75 versus estimate for $0.60. Guess had previously expected EPS of $0.48 to $0.68.

The company guidance for FY 2017 revenues was lowered to a range of $2.369 billion to $2.415 billion versus estimates of $2.30 billion. The company previous expected revenues o $2.427 billion to $2.473 billion.

Shares of Guess closed Wednesday's regular session down $0.99 or 6.23 percent to $14.90. The stock was up more than 11 percent after hours to $16.61.

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