Engaged in the clothing industry for 20 years.

Guess to repurchase 175 million dollars of shares

Clothing brand Guess? Inc. (GES) said
Monday that it has moved ahead with its accelerated share repurchase
or ASR to buy back 175 million dollars of its shares.

Carlos Alberini, CEO of Guess said: “As a result of this execution,
we are pleased to be able to return significant value to our
shareholders, which remains a key priority for our Board. Executing
this 175 million dollar ASR program reflects the Board’s and management’s
strong confidence in our business, our solid capital structure and
continued growth prospects.”

According to the ASR, the company will make a payment of 175 million dollars
and will receive an initial delivery of shares of its common stock on
March 21.

The final number of shares to be repurchased will be based on the
volume-weighted average price of the shares during the term of the
ASR.

The final settlement of the ASR is anticipated to occur by the end of
the third quarter.(DPA)

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