Business

Market Movers

Guess Inc. says discounts cut into profit

Guess Inc. cited discounts for a drop in its earnings.

istockphoto.com

Guess Inc. cited discounts for a drop in its earnings.

Advertisement

Guess Inc. said its fiscal fourth-quarter earnings fell as the company discounted more of its clothing. Net earnings were $81.4 million, down from $95.9 million a year earlier. Adjusted earnings were 95 cents per share, compared with $1.05 per share a year before. The adjusted net earnings exclude a charge of $12.8 million related to the resolution of a tax audit dispute in Italy. On a GAAP basis, fourth-quarter fiscal net earnings were $72.6 million, or 85 cents per share.

Real journalists. Real journalism. Subscribe to The Boston Globe today.
You're reading  1 of 5 free articles.
Get UNLIMITED access for only 99¢ per week Subscribe Now >
You're reading1 of 5 free articles.Keep scrolling to see more articles recomended for you Subscribe now
We hope you've enjoyed your 5 free articles.
Continue reading by subscribing to Globe.com for just 99¢.
 Already a member? Log in Home
Subscriber Log In

We hope you've enjoyed your 5 free articles'

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com