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Friday, June 04, 2010
Euro worries stalk Guess, whose shares fall 7 pct
Reuters
Guess, whose ads once featured buxom model Anna Nicole Smith, also cut its full-year profit outlook to a range of $2.80 to $2.85 per share due to the weakening euro. Analysts, on average, were looking for $2.99 a share.
Wall Street Strategies analyst Brian Sozzi said forecasts from Guess are typically seen as beatable but that its exposure to Europe has ushered in uncertainty.
"I think the move in the stock reflects the notion that the guidance, this time around, may be about right," Sozzi said.
Link to full article: http://www.reuters.com/article/idUSN2712717020100527
Posted by Brian Sozzi, Research Analyst
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