Guess’s stock slides 8% after earnings fall short and company lowers guidance

Guess Inc.’s stock tumbled 8% Wednesday, putting it on track for its biggest one-day decline in more than a year, after the clothing, footwear and accessories maker posted worse-than-expected third-quarter earnings and cut its guidance.

“Overall, a strong licensing business combined with a disciplined approach to cost management offset softness in some of our direct-to-consumer businesses and drove earnings from operations for the company that were flat to last year’s performance,” Chief Executive Carlos Alberini said in…