Guess reports Q1 EPS (44c), consensus (69c)

Reports Q1 revenue $647.8M, consensus $631.4M. Carlos Alberini, CEO, commented, “We are encouraged by our first quarter performance, which came in ahead of expectations across key metrics. Revenue grew 9% in U.S. dollars and 12% in constant currency, reflecting the successful integration of rag & bone and continued momentum in our wholesale businesses across Europe and the Americas. Disciplined expense management, combined with the better than expected top-line performance, enabled us to report operating results ahead of our guidance range, narrowing our loss for the quarter.” Paul Marciano, Co-Founder and Chief Creative Officer, commented, “We continue to benefit from our highly diversified business model. We have a strong global infrastructure that supports 25 different product categories, multiple markets across all regions of the world and several consumer channels. We plan to continue to leverage this unique platform to drive revenue growth, including initiatives such as the expansion of rag & bone into new markets and product categories, the expanded distribution of our Guess (GES) Athleisure product line and our Guess Jeans brand to capture increased market share among young consumers.”