Guess Predicts Loss, Citing Excess Inventory

Guess Inc. said it expects to report a fourth-quarter loss, including one-time charges, and restate results for the other three quarters of 2000, partly because of unrecorded excess inventory. The clothing designer and retailer said it expects a loss in the range of 27 cents to 31 cents a share for the latest quarter, including $14 million in charges as a result of writing off aged and damaged inventory, store closings and other nonrecurring expenses. The company plans to make its announcement in a conference call Monday. Shares of the Los Angeles-based company closed up 31 cents at $7.69 on Nasdaq, before the news was announced.