- Guess? Inc (NYSE:GES) has entered into an accelerated share repurchase agreement (ASR) to repurchase $175 million of its common stock.
- Under the ASR, the company will pay $175 million and receive an initial delivery of shares on March 21, 2022.
- The final settlement of the ASR is expected to happen in the third quarter of 2022.
- “Guess is executing on a clearly defined business transformation strategy that is delivering strong operational performance and solid financial results,” said CEO Carlos Alberini.
- Price Action: GES shares are trading higher by 4.06% at $22.29 in premarket on the last check Monday.
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