Guess Inc. (GES)

Shares of Guess Inc. (GES) dropped by 12.27% from $23.72 to $20.81 in the trading on Wednesday, November 22, 2023. The reason why GES is down today is due to the company's announcement of reduced revenue and profit expectations for the fiscal year, following disappointing third-quarter earnings. Guess Inc. revised its full-year revenue growth outlook to a range of 1.8% to 2.4%, a notable decrease from its previous guidance of 2.5% to 4% growth. The company not only missed earnings per share (EPS) and revenue estimates for the third quarter but also lowered its guidance for both the fiscal fourth quarter and the entire fiscal year. This news had an adverse impact on investor confidence, leading to the substantial decline in Guess Inc.'s stock price on that particular trading day.