Guess lowers outlook for 4Q

LOS ANGELES - Guess Inc. on Thursday lowered its guidance for the fourth quarter and full-year fiscal 2009 below analyst estimates, saying it expects the economic slump to continue for some time.

The clothing and shoe company said it expects net revenues in the fourth quarter of fiscal 2009, which ends Jan. 31, to range from $500 million to $540 million, and earnings per share to range from 50 cents to 55 cents, which would be below the 59 cents a share the company earned in the same quarter last year.

Analysts had forecast the company would earn 70 cents a share in the fourth quarter on revenue of $563.6 million, according to Thomson Reuters.

The company said it now expects revenue in full-year fiscal 2009 to range from $2.03 billion to $2.07 billion. It expects earnings per share to range from $2.27 to $2.32.

That's down from its previous guidance of revenue ranging from $2.06 billion to $2.11 billion and earnings per share ranging from $2.47 to $2.53 per share.

Analysts had predicted the company would earn $2.42 a share in the 2009 fiscal year on revenue of $2.08 billion.

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