Guess?, Inc. (NYSE:GES) stock fell 5.23% (As on March 15, 11:44:07 AM UTC-4, Source: Google Finance) after the company’s quarterly net income totaled $95.8 million, up from $68.4 million in the same period in fiscal 2022. The fourth quarter revenue increase was driven primarily by our business in Europe, which delivered strong top line growth and solid profit performance despite currency headwinds. For the fourth quarter, European revenues climbed 10 percent in U.S. dollars, and retail comp sales, including e-commerce, inched up 1 percent in U.S. dollars. Americas Retail revenues decreased 1% in both U.S. dollars and constant currency. Retail comp sales, including e-commerce, remained relatively flat in U.S. dollars and constant currency. Americas Wholesale revenues decreased 27% in both U.S. dollars and constant currency. Asia revenues decreased 8% in U.S. dollars and increased 1% in constant currency. Retail comp sales, including e-commerce, decreased 8% in U.S. dollars and increased 1% in constant currency. Licensing revenues decreased 8% in U.S. dollars and constant currency.

Moreover, for the fourth quarter of fiscal 2023, adjusted earnings from operations decreased 14% to $107.5 million, from $125.7 million in the same prior-year quarter. Adjusted operating margin decreased 2.6% to 13.1%, from 15.7% for the same prior-year quarter, driven primarily by the unfavorable impact of currency, higher costs, lower government subsidies compared to the same prior-year quarter and higher markdowns, partially offset by leveraging of expenses.

GES in the fourth quarter of FY 23 has reported the adjusted earnings per share of $1.74, beating the analysts’ estimates for the adjusted earnings per share of $1.30. The company had reported the adjusted revenue growth of 2 percent to $817.8 million in the fourth quarter of FY 23, beating the analysts’ estimates for revenue of $779 million. During fiscal 2023, the Company repurchased approximately 0.5 million shares of its common stock in open market transactions totaling $11.7 million.

Additionally, the company has approved a quarterly cash dividend of $0.225 per share on the Company’s common stock. The dividend will be payable on April 14, 2023 to shareholders of record as of the close of business on March 29, 2023.

For the current quarter ending in April, Guess expects its results to range from a loss of 31 cents per share to a loss of 25 cents per share.

The company expects full-year earnings in the range of $2.45 to $2.80 per share.