NEW YORK, NY / ACCESSWIRE / March 18, 2020 / Guess?, Inc. (NYSE:GES) will be discussing their earnings results in their 2020 Fourth Quarter Earnings call to be held on March 18, 2020 at 4:45 PM Eastern ...

Guess?, Inc. (NYSE: GES) today provided an update related to its store closures in response to the COVID-19 pandemic.

Guess?, Inc. (NYSE: GES) today reported financial results for its fourth quarter and fiscal year ended February 1, 2020.

Guess Inc. said Tuesday that it will furlough all of its store associates in the U.S. and Canada starting April 2. The clothing and accessories company will also furlough half of its corporate workers in the U.S. and Canada, and most of the staff in its distribution centers. The company will pay health insurance benefits for furloughed corporate and distribution center employees. The company has 15,700 employees, according to FactSet, with business spanning across the Americas, Asia and Europe. Guess is also instituting pay reductions for all management at the senior level, ranging from 15% to 70% for Chief Executive Carlos Alberini and Chief Creative Officer Paul Marciano. Guess has drawn down $212 million from certain credit facilities and will postpone declaration of a quarterly dividend. Guess stock jumped 5.3% in Tuesday trading, but is down 68% for the year to date. The S&P 500 index has slumped 19.5% for 2020 so far.

Some companies are softening the blow by extending health benefits. Others are sharing the pain with management pay cuts.

Shares of Guess Inc. rallied 7% in the extended session Wednesday after the retailer reported adjusted fiscal fourth-quarter earnings that were above Wall Street expectations and said it was in a "strong" position to face the impact of COVID-19. Guess said it earned $79.6 million, or $1.18 a share, in the quarter, compared with $23.2 million, or 28 cents a share, for the fourth quarter of fiscal 2019. Adjusted for one-time items, Guess earned $82.3 million, or $1.22 a share, compared with $58.2 million, or 70 cents a share, a year ago. Revenue rose 1% to $842 million, the company said. Analysts polled by FactSet had expected adjusted earnings of $1.12 a share on sales of $851 million. "We closed the year with strong liquidity and a solid balance sheet, which positions us well to navigate through the current coronavirus crisis," Chief Executive Officer Carlos Alberini said in a statment. Shares of Guess had ended the regular trading day down 38% as U.S. markets tanked again and the Dow Jones Industrial Average fell below 20,000 points on continued coronavirus fears.

Guess? (GES) announces additional ways to reduce the adverse operating and financial impacts from the COVID-19 spread. To this end, it is furloughing U.S. and Canada store associates.

Q4 2020 Guess" Inc Earnings Call

Guess (GES) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.

Guess? (NYSE: GES) announces its next round of earnings this Wednesday, March 18. Here is Benzinga's everything-that-matters guide for the Q4 earnings announcement.Earnings and Revenue Analysts expect Guess earnings of $1.12 per share. Revenue will likely be around $851.19 million, according to the consensus estimate.Guess reported a per-share profit of 70 cents when it published results during the same quarter last year. Sales in that period totaled $837.13 million. The Wall Street estimate would represent a 60% increase in the company's earnings. Sales would be up 1.68% on a year-over-year basis.View more earnings on GESGuess's reported EPS has stacked up against analyst estimates in the past like this: Quarter Q3 2020 Q2 2020 Q1 2020 Q4 2019 EPS Estimate 0.200 0.290 -0.260 0.75 EPS Actual 0.220 0.380 -0.250 0.7 Stock Performance Over the last 52-week period, shares are down 67.21%. Given that these returns are generally negative, long-term shareholders are likely a little upset going into this earnings release.Over the past 90 days, analysts have generally adjusted their estimates higher for EPS and revenues. Analysts seem to have settled on a Neutral rating with Guess. The strength of this rating has maintained conviction over the past three months.Conference Call Don't be surprised to see the stock move on comments made during its conference call. Guess is scheduled to hold the call at 4:45 p.m. ET and can be accessed here: https://edge.media-server.com/mmc/p/3h22b8bpSee more from Benzinga * Five Below's Q4 Earnings Outlook * Q4 Earnings Outlook For NIO * Q3 Earnings Outlook For General Mills(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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GUESS has teamed up with global music superstar, J Balvin, to launch a capsule collection for men, women, as well as kids – a first for the artist. Inspired by Balvin’s newest album, Colores, the highly anticipated GUESS x J Balvin Colores collection will be available for sale online at 10AM PST/1PM EST on Friday, June 5th at www.GUESS.com.

Guess?, Inc. (GES) prolongs its temporary store closure plan across the United States and Canada till further notice.

GUESS?, Inc., the global lifestyle brand, along with The GUESS Foundation, are launching multiple COVID-19 relief efforts, as part of its belief that we are InThisTogether. GUESS?, Inc. and The GUESS Foundation are partnering with organizations to donate funds, clothing, and PPE, and encourage blood donations to help support its global community during the COVID-19 crisis. Our mission is simple: Give. Protect. Inspire.

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