Guess? Signs $175M Accelerated Share Repurchase Agreement

Guess? Inc 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.