Guess Shares Slide Over 17% On Rumors of Sexual Harassment by Co-Founder Paul Marciano
Shares of no-moat Guess dropped over 17% on news that model Kate Upton has accused co-founder Paul Marciano of sexual and emotional harassment. Given no insight into the circumstances supporting the claim, we cannot take a position as to its validity. However, we see the allegations and any pending legal investigation having little effect on current operations. Although Marciano owns almost 15% of shares and is executive chairman of the board, he stepped down from the role of CEO in 2015 and now...GUESS? designs, markets, distributes and licenses collections of apparel and accessories for men, women and children. The lines include collections of clothing, including jeans, pants, skirts, dresses, shorts, blouses, shirts, jackets, knitwear and intimate apparel. In addition, the company selectively grants licenses to design, manufacture and distribute a range of products that complement its apparel lines, including eyewear, watches, handbags, footwear, kids' and infants' apparel, outerwear, fragrance, jewelry and other fashion accessories. The company's businesses are grouped into five reportable segments: Americas Retail, Americas Wholesale, Europe, Asia and Licensing.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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