Guess Slumps a Dramatic 86.3%

Guess Slumps a Dramatic 86.3%

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During the first courter of the year Guess Inc slumped to $6.6 million or $0.08 per share, down a steep 86.3 per cent versus $47.8 million or $0.57 per share in the prior fiscal’s fourth quarter.

In the fourth quarter of fiscal 2017, net revenue rose 3.2 per cent to $679.3 million vis-à-vis $658.3 million in the same quarter of earlier fiscal, while it grew 4.3 per cent in constant currency terms.

Guess attributed the decline in operating margin to higher asset impairment charges, more markdowns and the negative impact on the company’s fixed cost structure resulting from negative comparable store sales.