Clothing brand Guess lowers expectations for the year
- Guess cuts revenue growth and profit outlook for the year
- Expects to close the fourth quarter in a healthier position
- Guides for lower revenue growth and adjusted earnings per share
- Confident in plans for the holiday season with strong inventory position
Guess has announced a reduction in its revenue growth and profit outlook for the year. The company expects to close the fourth quarter in a healthier position. Revenue growth is now projected to be between 1.8% and 2.4%, down from the previous forecast of 2.5% to 4%. Adjusted earnings per share are also expected to decrease, with a new forecast of $2.67 to $2.74, compared to the previous forecast of $2.88 to $3.08. The company’s performance in the third quarter fell short of expectations, with lower-than-expected revenue growth and a 7% drop in its Americas retail topline performance. Despite this, Guess remains confident in its plans for the holiday season and has a strong inventory position to meet customer demand.
Factuality Level: 8
Factuality Justification: The article provides specific information about Guess cutting its revenue growth and profit outlook for the year, as well as the company’s guidance for the fourth quarter. It also includes quotes from the Chief Executive. However, the article lacks additional context or analysis, and it does not provide any information about the reasons behind the lowered outlook or the impact on the company’s performance.
Noise Level: 4
Noise Justification: The article provides information about Guess cutting its revenue growth and profit outlook for the year, as well as its guidance for the fourth quarter. It includes some financial figures and quotes from the CEO. However, it lacks in-depth analysis, evidence, or insights into the reasons behind the lowered outlook and the potential consequences for the company. It also does not explore the impact on stakeholders or hold anyone accountable for the performance. Overall, the article provides basic information but lacks depth and analysis.
Financial Relevance: Yes
Financial Markets Impacted: Guess, the clothing brand and retailer, has cut its revenue growth and profit outlook for the year. This may impact the company’s stock price and investor sentiment.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article discusses the financial performance and outlook of Guess, indicating potential implications for the company’s financial markets and investors. However, there is no mention of an extreme event.
Public Companies: Guess (N/A)
Key People: Carlos Alberini (Chief Executive)
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