Guess? Inc (NYSE:GES) stock rallies 21.16% (As on March 21, 11:45:23 AM UTC-4, Source: Google Finance) after the company was able to exceed market expectations for the fourth quarter of FY 23. The company has also announced the prospect of double-digit sales growth for the current year. Revenues in the Americas Retail segment increased 1% year over year on a reported basis while remaining flat at cc. Retail comp sales (including e-commerce) dropped 1% on a reported basis and fell 2% at cc. Americas Wholesale revenues soared 44% on a reported basis and 39% at cc. The segment’s operating margin jumped 7.6% to 28.5% in the quarter. The Europe segment’s revenues increased 9% on a reported basis and rose 10% at cc. Retail comp sales (including e-commerce) climbed 6% on a reported basis and 7% on a cc basis. Asia revenues advanced 18% on a reported basis and 19% at cc. Retail comp sales (including e-commerce) fell 2% on a reported basis, while the same declined 1% at cc. Licensing revenues rallied 15% on a reported basis and at cc. Net cash provided by operating activities for the fiscal year ended Feb 3, 2024 was $330.4 million. Free cash flow for the same period amounted to $248.4 million.

GES in the fourth quarter of FY 24 has reported the adjusted earnings per share of $2.01, beating the analysts’ estimates for the adjusted earnings per share of $1.55, according to the Zacks Consensus Estimate. The company had reported the adjusted revenue growth of 9 percent to $891.1 million in the fourth quarter of FY 24, beating the analysts’ estimates for revenue of $856 million.

Additionally, GES announced a quarterly dividend of 30 cents per share and a special cash dividend of $2.25 per share on the company’s common stock, both payable on May 3, 2024 to shareholders on record as of Apr 17.

For the current financial year 2024/25, the management is now forecasting revenue growth of 11.5 to 13.5 percent. The forecast also includes the expected contributions from the Rag & Bone brand, the acquisition of which was announced in February and is due to be finalised soon. However, diluted earnings per share adjusted for special effects, which totalled 3.14 dollars last year, are expected to fall to between 2.56 and USD 3.00 dollars. For fiscal 2025, free cash flow is envisioned to be $160 million.