Guess results from Q4 leads to rise in shares

The most recent results of Guess’s 4Q revenue net profits reported a lesser decline than initially expected.

At the end of January, the company reported a net income of 53.9 million dollars, which a 24.1 percent decrease in comparison to the fourth quarter of last year. It was reported that diluted earnings per share decreased 24.1 percent.

According to WWD, shares rose 10.2 percent in the first hour of after-hours trading on Wednesday. Originally, shares had fallen 2.5 percent to 16.74 dollars during the New York Stock Exchange, but after the close of the markets it was reported that Guess shares jumped to 18.44 dollars. Although the share was estimated to be 58 cents, the final after-hours report showed that it was at 63 cents a share. Shares have surged 12 percent after the earnings were posted.

So far, the stock has lost 21 percent this year following Wednesday’s close. Total revenue fell 9.3 percent resulting in decreasing sales in all of Guess’s geographic segments.