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As the Q3 earnings season wraps, let’s dig into this quarter’s best and worst performers in the apparel and accessories industry, including Guess (NYSE:GES) and its peers.
Thanks to social media and the internet, not only are styles changing more frequently today than in decades past but also consumers are shifting the way they buy their goods, favoring omnichannel and e-commerce experiences. Some apparel and accessories companies have made concerted efforts to adapt while those who are slower to move may fall behind.
The 17 apparel and accessories stocks we track reported a mixed Q3. As a group, revenues along with next quarter’s revenue guidance were in line with analysts’ consensus estimates.
Luckily, apparel and accessories stocks have performed well with share prices up 19.5% on average since the latest earnings results.
Guess (NYSE:GES)
Flexing the iconic upside-down triangle logo with a question mark, Guess (NYSE:GES) is a global fashion brand known for its trendy clothing, accessories, and denim wear.
Guess reported revenues of $738.5 million, up 13.4% year on year. This print fell short of analysts’ expectations by 1.2%. Overall, it was a slower quarter for the company with full-year EPS guidance missing analysts’ expectations.
Guess scored the fastest revenue growth of the whole group. Still, the market seems discontent with the results. The stock is down 15.2% since reporting and currently trades at $12.86.
Read our full report on Guess here, it’s free.
Best Q3: Stitch Fix (NASDAQ:SFIX)
One of the original subscription box companies, Stitch Fix (NASDAQ:SFIX) is an online personal styling and fashion service that curates personalized clothing selections for customers.
Stitch Fix reported revenues of $318.8 million, down 12.6% year on year, outperforming analysts’ expectations by 3.9%. The business had an exceptional quarter with EBITDA guidance for next quarter exceeding analysts’ expectations and an impressive beat of analysts’ EPS estimates.
Stitch Fix achieved the biggest analyst estimates beat and highest full-year guidance raise among its peers. The market seems happy with the results as the stock is up 15.2% since reporting. It currently trades at $5.30.
Is now the time to buy Stitch Fix? Access our full analysis of the earnings results here, it’s free.
Weakest Q3: Figs (NYSE:FIGS)
Rising to fame via TikTok and founded in 2013 by Heather Hasson and Trina Spear, Figs (NYSE:FIGS) is a healthcare apparel company known for its stylish approach to medical attire and uniforms.
Figs reported revenues of $140.2 million, down 1.5% year on year, falling short of analysts’ expectations by 2.1%. It was a disappointing quarter as it posted a significant miss of analysts’ adjusted operating income estimates.