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Guess Q2 Profit Falls; Adjusted Net Beats View; Forecast Cut (GES)

Apparel maker Guess?, Inc. ( GES ) late Wednesday said its second quarter profit fell 9% from last year, but adjusted results still beat analyst expectations.

The Los Angeles-based company reported second quarter net income of $60.7 million, or 65 cents per share, compared with $66.8 million, or 72 cents per share, in the year-ago period. Excluding one-time items, adjusted profit was 84 cents per share.

Revenue rose 17% from last year to $677.2 million.

On average, Wall Street analysts expected a smaller profit of 81 cents per share on lower revenue of $656.4 million.

Looking ahead, the company cut its full-year earnings forecast to a range of $3.25 to $3.35 per share, down from prior guidance of $3.30 to $3.50. Analysts expect higher earnings of $3.43 per share for the year.

Guess shares fell $1.54, or -4.6%, in premarket trading Thursday.

The Bottom Line

Shares of Guess ( GES ) have a 2.40% dividend yield, based on closing stock price of $33.29. The stock has technical support in the $28-$30 price area. If the shares can firm up, we see overhead resistance around the $35-$38 price levels.

Guess?, Inc. ( GES ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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