Guess? earnings (NYSE:GES) were below what analysts were calling for during the company’s latest quarter, sending GES stock sinking late in the day.
The apparel retailer said that for its third quarter of fiscal 2018, it brought in adjusted earnings of 13 cents per share, which was below the 16 cents per share that analysts were calling for, according to data compiled by Zacks Investment Research in their consensus estimate.
Guess? did impress on the revenue front as the company brought in sales of $605.41 million, which was stronger than the Wall Street consensus estimate of $603 million. The retailer added that its comparable sales in the Americas increased by 3% during the period, topping the Wall Street guidance of an increase of 2.1% in comparable sales in the Americas.
The company added that its fourth quarter earnings guidance was in line with what analysts were calling for. Guess? said that the company saw itself bringing in adjusted earnings of 69 cents to 76 cents per share for the period, while analysts see this figure as being 75 cents per share in their outlook.
GES stock is down nearly 8.6% after the bell Wednesday afternoon as the company reported its latest quarterly results, which were below what analysts were calling for in the earnings front. The stock had been gaining more than 1.8% during regular trading hours in anticipation for its results.