Categories: Fashion

Guess Q1 sales lift on strong US wholesale, overseas sales

Guess Inc. said on Thursday revenue for the first quarter rose 4% to $591.9 million, on the back of surging wholesale revenues and growth in Asia, offsetting declines in the footwear firm’s Americas retail channel.

Rafael Pavarotti

The Los Angeles-based company said Americas retail revenues remained flat for the three months ending May 4, with retail comparable sales, including e-commerce, dropping 7%. Americas Wholesale revenues, however, surged 21%.

Overseas, Asia revenues increased 3%, with retail comparable sales, including e-commerce, decreasing 9%, while Europe revenues increased 1% for the quarter. Licensing revenues surged 21%.

For the first quarter, Guess reported a GAAP loss from operations of $19.9 million (including $1.1 million in non-cash impairment charges taken on certain long-lived store related assets and a $3.1 million unfavorable currency translation impact), compared to $0.9 million, in the prior-year period.

“We are very pleased with our first quarter results, which exceeded our expectations for revenues and earnings per share,” said Carlos Alberini, Guess chief executive officer.

“We delivered revenue growth of 4% in US dollars and 7% in constant currency, driven by a remarkable performance of our licensing and Americas wholesale businesses and strong results in Europe and Asia. Revenues in our Americas retail business finished flat for the quarter, as we continued to experience softness in certain of our businesses in the region due to slower customer traffic. I believe our strong results this quarter once again highlight the power of our diversified business model and the strength of our brand and our global distribution.”

Looking ahead, the U.S. company said its expects fiscal 2025 revenues to increase between 10.7% and 12.7%, coinciding with a 9% to 11% increase in revenues for the second quarter.

Earlier this week, Guess announced the appointment of Andrew Rosen to the role of executive chair of the firm’s recently acquired Rag & Bone brand.

Copyright © 2024 FashionNetwork.com All rights reserved.

News Today

Recent Posts

Kareena Kapoor’s Next Untitled Film With Meghna Gulzar Gets Prithviraj Sukumaran On Board

Kareena Kapoor is working with Raazi director Meghna Gulzar for her next film. The project,…

14 hours ago

Purdue basketball freshman Daniel Jacobsen injured vs Northern Kentucky

2024-11-09 15:00:03 WEST LAFAYETTE -- Daniel Jacobsen's second game in Purdue basketball's starting lineup lasted…

15 hours ago

Rashida Jones honors dad Quincy Jones with heartfelt tribute: ‘He was love’

2024-11-09 14:50:03 Rashida Jones is remembering her late father, famed music producer Quincy Jones, in…

15 hours ago

Nosferatu Screening at Apollo Theatre Shows Student Interest in Experimental Cinema – The Oberlin Review

2024-11-09 14:40:03 A silent German expressionist film about vampires accompanied by Radiohead’s music — what…

15 hours ago

What Are Adaptogens? Find Out How These 3 Herbs May Help You Tackle Stress Head-On

Let's face it - life can be downright stressful! With everything moving at breakneck speed,…

15 hours ago

The new Mac Mini takes a small step towards upgradeable storage

Apple’s redesigned Mac Mini M4 has ditched the previous M2 machine’s SSD that was soldered…

15 hours ago