Stock Story -
Contemporary clothing brand Guess (NYSE:GES) will be reporting results tomorrow after the bell. Here’s what to expect.
Guess beat analysts’ revenue expectations by 3% last quarter, reporting revenues of $591.9 million, up 3.9% year on year. It was a solid quarter for the company, with an impressive beat of analysts’ earnings estimates.
Is Guess a buy or sell going into earnings? Find out by reading the original article on StockStory, it’s free.
This quarter, analysts are expecting Guess’s revenue to grow 9.8% year on year to $729.9 million, improving from the 3.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.43 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Guess has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 3% on average.
Looking at Guess’s peers in the apparel, accessories and luxury goods segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Under Armour’s revenues decreased 10.1% year on year, beating analysts’ expectations by 3.8%, and VF Corp (NYSE:VFC) reported a revenue decline of 8.6%, topping estimates by 3.3%. Under Armour traded up 21.9% following the results while VF Corp was also up 7.1%.
Read the full analysis of Under Armour’s and VF Corp’s results on StockStory.
Investors in the apparel, accessories and luxury goods segment have had steady hands going into earnings, with share prices flat over the last month. Guess is down 8% during the same time and is heading into earnings with an average analyst price target of $28 (compared to the current share price of $21.53).
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