Bank of America just raised its EUR/USD forecast
LOS ANGELES - Guess?, Inc. (NYSE: GES) has announced the appointment of Alberto Toni as the new Chief Financial Officer (CFO), effective after the company files its next Quarterly Report expected by mid-June. Toni, who currently holds the position of Group Managing Director and CFO at Flos B&B Italia Group S.p.A., will be taking over from Dennis Secor, the Interim CFO. Secor is set to continue with Guess? as Executive Vice President until September 12, 2025, to ensure a smooth transition.
Carlos Alberini, CEO of Guess?, expressed confidence in Toni’s extensive financial and operational experience, citing his 30-year career which spans across design, retail, and consumer-focused companies. Toni’s leadership is anticipated to help Guess? in optimizing its business portfolio and enhancing its cost structure to position the company for long-term growth. The company currently maintains strong fundamentals with a healthy current ratio of 1.54 and offers investors an attractive dividend yield of 10.54%.
Toni’s professional background includes his role as CFO at Flos B&B Italia Group since May 2023 and his tenure at Bata SA, a global retail footwear company, where he served as CFO from July 2016 to April 2023. His experience also includes a stint as CFO for Deoleo SA, and various finance roles at Heineken, including as Senior Finance Director for Western Europe and VP Finance for Brazil. Toni, a chartered accountant and certified tax advisor, holds a Bachelor’s Degree in Economics from Università Cattolica del Sacro Cuore in Milan.
Guess?, Inc., a global brand known for its contemporary apparel and accessories, operates 1,070 retail stores and has a presence in approximately 100 countries as of February 1, 2025. The company’s expansion includes the acquisition of assets and a 50% interest in the intellectual property of fashion brand rag & bone as of April 2, 2024.
The information for this article is based on a press release statement from Guess?, Inc.
In other recent news, Guess?, Inc. is currently evaluating a non-binding acquisition proposal from WHP Global, which has offered to purchase the company’s outstanding shares for $13.00 per share in cash. The Special Committee of Guess?’s Board of Directors is reviewing the offer with the assistance of financial and legal advisors, although no decision has been made yet. Meanwhile, UBS analysts have reduced their price target for Guess? shares from $15 to $12, maintaining a Neutral rating due to anticipated challenges in the company’s fourth-quarter earnings, particularly in the Americas and Asia markets. UBS expects Guess? to issue earnings guidance for fiscal year 2026 that may fall short of current estimates.
Additionally, Jefferies analyst Corey Tarlowe has also revised his outlook on Guess?, lowering the price target from $16 to $14 while maintaining a Hold rating. This adjustment follows discussions with company management and reflects ongoing pressures in the North American retail sector. In corporate governance news, Guess? has appointed Christopher N. Lewis as a new independent director following the resignation of Thomas J. Barrack Jr. Lewis will serve on the Board until the 2025 annual shareholders meeting. These developments come as Guess? continues to navigate a challenging retail environment, with strategic acquisitions and wholesale operations providing some support amidst broader market pressures.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.