Welcome to our dedicated page for Guess news (Ticker: GES), a resource for investors and traders seeking the latest updates and insights on Guess stock.
Guess? (GES) is a global leader in fashion apparel renowned for its iconic denim and trend-driven lifestyle products. This page serves as the definitive source for official company announcements, financial updates, and strategic developments impacting the retail sector.
Access real-time press releases, earnings reports, and leadership updates to stay informed about Guess?'s market position and operational milestones. Investors will find quarterly results and partnership announcements, while industry observers can track product launches and sustainability initiatives shaping the brand's trajectory.
Our curated news collection covers essential categories including financial performance, retail expansions, design collaborations, and corporate governance updates. All content is verified through primary sources to ensure accuracy and compliance with financial disclosure standards.
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Guess?, Inc. (NYSE: GES) announced a strategic financial move involving the exchange and private placement of convertible senior notes. The company will extend the maturity of $184.9 million of existing 2.00% notes to 2028, issuing $275 million in new 3.75% notes. Proceeds will be used to retire $185 million in current notes, repurchase $43 million of stock, and fund general corporate purposes. The new notes feature an initial conversion rate of approximately 40.4858 shares per $1,000 principal, translating to a conversion price of about $24.70, a 30% premium over recent trading prices. Additionally, the company entered into hedge and warrant transactions to limit potential equity dilution, with a strike price of $41.80 per share, reflecting a 120% premium to recent stock prices.
Guess?, Inc. (GES) reported its fourth quarter fiscal 2023 results, achieving revenues of $818 million, reflecting a 2% increase in U.S. dollars and an 8% rise in constant currency. The company recorded an operating margin of 12.7% and an adjusted operating margin of 13.1%. For the fiscal year 2023, total revenues reached $2.7 billion, up 4% in U.S. dollars and 12% in constant currency. EPS for Q4 was $1.42, while adjusted EPS was $1.74. Looking ahead, Guess? projects a revenue growth of 1% to 3% for fiscal 2024 and a GAAP EPS range of $2.08 to $2.36. The board also approved a quarterly dividend of $0.225 per share.
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