We Guess That Wasn’t Good?

American clothing brand and retailer Guess? reported earnings today that sent shares tumbling. 🔻

Its fourth-quarter adjusted earnings per share of $1.74 on $817.8 million in revenue topped the expected $1.30 and $772 million.

Driving the strength was strong European sales, though currency fluctuations reduced operating profit by $62 million and operating margin by 1.40%. Accessory sales were also a strong point, with handbags, leather goods, travel products, fragrances, jewelry, and eyewear all strong. Its Marciano brand of activewear dresses also performed well. 👜

Ultimately, the company’s holiday-quarter results surpassed even its own expectations. However, executives offered a more cautious outlook for fiscal 2024. ⚠️

The company expects low single-digit revenue growth but solid profit performance and strong cash flow generation. Its full-year earnings per share estimate of $2.45 to $2.80 was well below the $3.41 consensus view. And revenue growth of 1%-3% fell short of the 3.9% expected.

$GES shares were down roughly 7% on the news as investors look ahead to a weaker-than-expected future. 📉

More in   Earnings

View All

Investors Sell As They Sea Ltd. Upside

Singapore-based e-commerce and digital entertainment company Sea Ltd. reported weak results today, sending shares tumbling. 📉

The company’s adjusted earnings per share of $0.15 on revenues of $3.04 billion missed the $0.40 and $3.07 billion analysts expected.

Read It

Tech Earnings: Let’s Jump Right Intuit

Global financial technology platform Intuit kicked off tech earnings after the bell. 🔔

The company, which owns TurboTax, Credit Karma, Quickbooks, and Mailchimp, missed revenue but beat earnings expectations. Adjusted earnings per share of $8.92 on revenues of $6.02 billion were mixed versus the $8.48 and $6.09 billion consensus views.

Read It

Revenue Falls At China’s Biggest Chipmaker

It’s been a mixed quarter for semiconductor stocks, with many expecting a recovery in the back half of 2023. And China’s largest chipmaker has not been immune to the slowdown.

Semiconductor Manufacturing International Co. (SMIC) posted Q1 revenue of $1.46 billion (-20.6% YoY), its first sales decline since Q3 2019. Net profits also fell 48% YoY to $231.1 million, highlighting potential issues with Beijing’s ambitions to boost its domestic semiconductor industry. 🔻

Read It

Dingdong Delivers Poor Results

Chinese fresh grocery e-commerce company Dingdong delivered worse-than-expected results that sent shares tumbling. 🔻

Non-GAAP earnings per American depository share of $0.00 aligned with expectations. However, revenues of $727.7 million fell 15.3% YoY and missed consensus estimates by $93.19 million. Gross merchandise value (GMV) of $793.8 million fell 6.8% YoY. 🛒

Read It