Guess?, Inc. Board Authorizes New $200 Million Share Repurchase Program
01 Abril 2024 - 5:00AM
Business Wire
Guess?, Inc. (NYSE: GES) (the “Company”) today announced that
its Board of Directors has authorized a new share repurchase
program of up to $200 million of the Company’s common stock. Guess?
also separately announced today that, as part of this new program
and through a convertible bond exchange transaction, it has agreed
to repurchase 326,429 shares of the Company’s common stock for
$10.3 million.
Carlos Alberini, Chief Executive Officer, commented, “Returning
capital directly to our shareholders is a high priority for our
Board. This $200 million share repurchase authorization and the
more than $10 million repurchase we have announced today reflects
our confidence in the business and follows our recently announced
special dividend of $2.25 per share which will be paid in early
May. We remain committed to enhancing shareholder returns and have
a strong capital structure, solid cash flow generation, a powerful
and diversified business model and a unique platform to support our
Company’s growth initiatives.”
Share repurchases under the authorization may be made on the
open market or in privately negotiated transactions, pursuant to
Rule 10b5-1 trading plans or other available means. There is no
minimum or maximum number of shares to be repurchased under the
program and the program may be discontinued at any time, without
prior notice.
About Guess?, Inc.
Guess?, Inc. designs, markets, distributes and licenses a
lifestyle collection of contemporary apparel, denim, handbags,
watches, eyewear, footwear and other related consumer products.
Guess? products are distributed through branded Guess? stores as
well as better department and specialty stores around the world. As
of February 3, 2024, the Company directly operated 1,002 retail
stores in Europe, the Americas and Asia. The Company’s partners
operated 551 additional retail stores worldwide. As of February 3,
2024, the Company and its partners and distributors operated in
approximately 100 countries worldwide.
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Guess?, Inc. Fabrice Benarouche Senior Vice President of Finance
and Investor Relations and Chief Accounting Officer (213)
765-5578
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