Guess? Inc. (GES)
by Zacks Equity ResearchMay 30, 2012 | Comments : 0 Recommended this article: (0)
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Severe austerity measures taken by European governments to combat the debt crisis resulted in reduced spending of the consumers, which was offset by a slight improvement of sales in North American. Operating margin shrank owing to higher SG&A as well as promotional activities. Same store sales also declined in the quarter.
A weaker Euro and lower orders in the European region are expected to keep revenue at lower levels. Cotton cost and SG&A is also expected to remain at high levels in the coming quarter crippling margins of the company.
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