Guess Stock Price, News & Analysis

Guess?, Inc. (NYSE: GES) has successfully completed a $175 million accelerated share repurchase program, receiving a total of 8.5 million shares at an average price of $20.68 per share. The company also repurchased an additional 0.5 million shares for $11.7 million, bringing the total repurchased shares to 9 million for $186.7 million this fiscal year at an average price of $20.78 per share, representing over 14% of outstanding shares. This share buyback reflects the company's commitment to enhancing shareholder value.

Guess?, Inc. (GES) reported a strong Q1 fiscal 2023, with revenues of $593 million, marking a 14% increase in U.S. dollars and 21% in constant currency compared to Q1 fiscal 2022. Operating margin improved to 6.1%, with adjusted operating margin at 7.0%. EPS was $0.12, down 33.3% year-over-year, while adjusted EPS rose 14.3% to $0.24. The company anticipates 4% revenue growth for fiscal 2023. A $175 million accelerated share repurchase program has been initiated, alongside a quarterly dividend of $0.225 per share payable on June 24, 2022.

Guess?, Inc. (NYSE: GES) will announce its first-quarter fiscal results for 2023, ending April 30, 2022, on May 25, 2022. A conference call will be held at 4:45 p.m. ET to discuss these results, which will be available via live webcast on the company's website. As of January 29, 2022, Guess? operated 1,068 retail stores in the Americas, Europe, and Asia, alongside 563 partner-operated stores, spanning approximately 100 countries. For more details, visit www.guess.com.

Legion Partners Asset Management has received a 'cease and desist' letter from Paul Marciano's law firm, which Legion claims aims to silence shareholder dissent. Legion emphasizes that 84% of unaffiliated shareholders voted to remove Marciano from the board at the recent annual meeting. They express concern over the use of corporate resources in this intimidation effort and maintain their commitment to advocate for shareholders' interests. Legion insists that both Marcianos’ presence on the board poses risks to Guess's reputation and valuation amidst ongoing sexual abuse allegations.

GUESS Originals has partnered again with global music superstar J Balvin for the GUESS Originals x J Balvin Amor Collection, inspired by his documentary “The Boy from Medellin.” Launching on May 12, 2022, the collection blends vibrant colors and expressive graphics while promoting mental health awareness. The 47-piece collection ranges in price from $14 to $148, featuring styles for men, women, and children. Balvin emphasizes peace and love, strengthening the connection between his personal journey and the GUESS brand heritage.

Guess?, Inc. (NYSE: GES) announced that shareholders re-elected all four director nominees at the 2022 Annual Meeting. The Board expressed gratitude for shareholder engagement, emphasizing the ongoing transformation plan aimed at enhancing brand value, optimizing operations, and driving financial growth. Preliminary results show all proposals, including executive compensation and auditor ratification, were approved. The company highlighted its commitment to long-term growth while acknowledging potential risks from the global economic situation and ongoing geopolitical tensions.

GUESS has launched a new in-store customer recycling program in partnership with Homeboy Recycling to promote sustainability in the fashion industry. Customers can bring in 5 or more clothing items to any GUESS store across the US and receive a 15% discount on their next purchase. The items collected will be sorted for repair, resale, and recycling. This initiative aligns with GUESS' goals for circular business models and supports local job creation in Los Angeles.

Guess?, Inc. (NYSE: GES) urges shareholders to vote 'FOR ALL' its director nominees on the WHITE proxy card as the company responds to Institutional Shareholder Services (ISS). The company disputes ISS's recommendation to withhold votes for Paul and Maurice Marciano, emphasizing the importance of their leadership in the ongoing transformation strategy. An independent investigation regarding allegations against Paul Marciano is underway. Guess warns that proposed changes from Legion Partners could jeopardize long-term growth and value.