Guess Reports It Had Wider Annual Loss
From Bloomberg News
Guess Inc., a clothing retailer and designer, said its loss was wider than forecast last year after it increased promotions and discounts to lure holiday shoppers.
The loss, excluding some costs, was 12 cents to 14 cents a share, the Los Angeles-based company said. That was more than the loss of 2 cents to 5 cents it projected in October. Sales at stores open at least a year dropped 1.1% in December.
Guess shares were unchanged at $3.77 on the NYSE.
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