Guess? (GES) Reports In Line Q4 EPS, Provides Outlook, Expands Share Repurchase by $100 Million

Guess? (NYSE: GES) reported its Q4 results, with EPS coming in at $1.14, which is in line with the consensus estimate. Revenue grew 23.4% year-over-year (or 28.1% in constant currency) to $800 million, slightly lower than the consensus estimate of $808.17 million. In comparison to Q4/20, the revenue decreased 5.0%.

The company provided its Q1/23 outlook, expecting revenues to grow in low-teens year-over-year (assuming no meaningful COVID-related shutdowns) mainly driven by last year’s temporary store closures, wholesale growth and positive store comps.

For the full 2023-year, the company expects revenues to grow low-single digits year-over-year and operating margin to reach approximately 10.5%.

On March 14, 2022, the company’s Board of Directors expanded its repurchase authorization by $100 million, adding to $149.0 million remaining capacity from its previously announced share repurchase program.

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