Guess Inc (NYSE:GES) shares tanked in premarket, extending losses on Tuesday, after delivering its third quarter sales numbers that missed Wall Street’s expectations.
The designer label said on Tuesday that sales rose 3.3% to US$554mln against US$536mln a year ago.
Sales fall in Americas offset by Europe and Asia
The market consensus was for adjusted earnings of 12 US cents a share on sales of US$564mln.
Guess said that retail revenue in the Americas fell 11%, but it was offset by increases in Europe and Asia.
In premarket trade, its shares dipped 9.36% at US$17.95.