Guess, Inc. Announces $200M Share Repurchase Program

Guess?, Inc. has announced a new share repurchase program of up to $200 million of the company's common stock. As part of this program, the company has agreed to repurchase 326,429 shares of its common stock for $10.3 million through a convertible bond exchange transaction.

The Chief Executive Officer, Carlos Alberini, emphasized the company's commitment to returning capital to shareholders, highlighting the confidence in the business. This follows the company's recent announcement of a special dividend of $2.25 per share to be paid in early May.

Guess?, Inc. has a strong capital structure, solid cash flow generation, and a powerful and diversified business model. As of February 3, 2024, the company directly operated 1,002 retail stores in Europe, the Americas, and Asia, with an additional 551 retail stores operated by partners. The company and its partners and distributors operated in approximately 100 countries worldwide.

The market has reacted to these announcements by moving the company's shares 4.6% to a price of $32.93. For the full picture, make sure to review Guess?'s 8-K report.

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