Tariffs being slapped onto the U.S.’s trading partners all on the same day has only increased the levels of uncertainty for market participants. The end result was one of the single-worst trading days in recent memory.
Contemporary clothing brand Guess (NYSE:GES) reported Q4 CY2024 results topping the market’s revenue expectations, with sales up 4.6% year on year to $932.3 million. Guidance for next quarter’s revenue was better than expected at $631.3 million at the midpoint, 0.8% above analysts’ estimates. Its non-GAAP profit of $1.48 per share was 7.6% above analysts’ consensus estimates.
Shares of contemporary clothing brand Guess (NYSE:GES)
jumped 28.7% in the morning session after the company announced it received a $13.00 cash acquisition offer from WHP Global. The deal would cover all outstanding shares other than those held by some existing shareholders like Paul Marciano, Maurice Marciano, and Carlos Alberini, planned to roll their stakes into the deal.
The company added that it formed a special committee to review the offer but noted that there is no guarantee that the proposed offer will be approved or completed.
U.S. retail sales miss expectations in Feb, raising concerns about consumer strength. However, some areas show resilience & economy not near recession.
Shares of Guess? are rising in premarket trading after the company received a non-binding acquisition proposal from WHP Global. Guess? has formed a Special Committee to evaluate the offer with financial and legal advisors.
Most consumer discretionary businesses succeed or fail based on the broader economy. This sensitive demand profile can lead to some stock price volatility, but over the past six months,
the industry has stayed on track as its 6.2% return was close to the S&P 500’s.
As the Q3 earnings season wraps, let’s dig into this quarter’s best and worst performers in the apparel and accessories industry, including Guess (NYSE:GES) and its peers.
As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q3. Today, we are looking at apparel and accessories stocks, starting with PVH (NYSE:PVH).
Shareholders of Guess would probably like to forget the past six months even happened. The stock dropped 29.4% and now trades at $14.06. This was partly due to its softer quarterly results and may have investors wondering how to approach the situation.
