Guess stock plummets after Kate Upton accuses exec of harassment

Guess's stock price tanked Thursday after supermodel Kate Upton accused the fashion brand's co-founder Paul Marciano ...

Posted: Feb 2, 2018 7:20 AM
Updated: Feb 2, 2018 7:20 AM

Guess's stock price tanked Thursday after supermodel Kate Upton accused the fashion brand's co-founder Paul Marciano of sexual harassment.

The company's shares fell nearly 18% Thursday. It marked the worst day of trading for Guess since 2012.

Upton took aim at Marciano on social media on Wednesday. "It's disappointing that such an iconic women's brand @GUESS is still empowering Paul Marciano as their creative director," she wrote in a tweet.

"He shouldn't be allowed to use his power in the industry to sexually and emotionally harass women," Upton added on Instagram.

Related: How to talk about sexual harassment at work

She included #MeToo, the hashtag that's come to symbolize the sexual harassment movement since the Harvey Weinstein scandal broke last fall.

Upton did not elaborate or offer examples of Marciano's alleged misbehavior, and her representatives did not to respond to a request for comment. Guess did not respond to multiple requests for comment.

TMZ said it communicated with Marciano and reported that he denies any inappropriate conduct and is shocked by the allegation.

"If she has a claim, there's one place to tell the truth and that's in court or to the police," he told the outlet.

Marciano founded Guess with his brother in 1981. He currently serves as the company's chief creative officer and chairman, but he left the CEO seat in 2015.

Marciano is also one of Guess's biggest shareholders. He currently owns 12,367,360 shares. That means Thursday's stock plunge cost him about $40 million.

Upton has appeared in multiple campaigns for Guess. The company's official Twitter handle has frequently shared images of the model with the hashtag "#GuessGirl."

Guess has credited Marciano with "launching" the careers of a number of supermodels, including Upton, Claudia Schiffer and Gigi Hadid.

California Coronavirus Cases

Data is updated nightly.

Cases: 3543340

Reported Deaths: 49888
CountyCasesDeaths
Los Angeles118349620069
Riverside2885413695
San Bernardino2850812651
Orange2598573848
San Diego2578053218
Santa Clara1095061747
Kern102137786
Fresno945841397
Sacramento926211446
Alameda797961200
Ventura76947805
San Joaquin662901042
Contra Costa61865653
Stanislaus55487937
Tulare47680731
Monterey42016323
San Mateo38552502
San Francisco33947394
Santa Barbara31630398
Solano29882161
Merced28749393
Sonoma27845295
Imperial26840587
Kings21916218
Placer19661231
San Luis Obispo19500221
Madera15325201
Santa Cruz14516174
Marin13083197
Yolo12689185
Shasta10950172
Butte10855158
El Dorado906995
Napa895068
Sutter881896
San Benito572358
Yuba571936
Lassen559419
Tehama506852
Tuolumne392959
Nevada390974
Mendocino379043
Amador343840
Humboldt313633
Lake310740
Glenn220723
Colusa212513
Calaveras190225
Siskiyou172013
Inyo127835
Mono12084
Del Norte9765
Plumas6516
Modoc4504
Mariposa3937
Trinity3525
Sierra990
Alpine800
Unassigned00
Chico
Clear
55° wxIcon
Hi: 64° Lo: 39°
Feels Like: 55°
Oroville
Clear
58° wxIcon
Hi: 65° Lo: 49°
Feels Like: 58°
Chico
Clear
55° wxIcon
Hi: 57° Lo: 44°
Feels Like: 55°
Red Bluff
Clear
56° wxIcon
Hi: 38° Lo: 16°
Feels Like: 56°
Red Bluff
Clear
56° wxIcon
Hi: 59° Lo: 46°
Feels Like: 56°
Chico
Clear
55° wxIcon
Hi: 64° Lo: 48°
Feels Like: 55°
Strong wind continues to blow through the valley this afternoon, and will last through the evening. Thursday will still be a fairly breezy day, but the wind won't be as strong and our temperatures will be warmer. More wind is coming Friday and Saturday.
KHSL Severe
KHSL Radar
KHSL Temperatures

Community Events