Guess increases sales by 2% in third quarter
The American company reached a profit of 12.4 million dollars, up 192.4% compared to the loss of 13.4 million dollars for the same period last year.
Guess, on the rise. The American company reached a profit of 12.4 million dollars in the third quarter, versus the the loss of 13.4 million dollars for the same period last year. Sales of the group went up by 2%, to 615.9 million dollars, compared to the 605.4 million year-on year.
By regions the company was boosted by its European market, with an increase of 9.1%. Asia, on the other hand dropped its sales by 8%. The company’s local market in its wholesale channel increased 7% while retail sales dropped 4.9%.
Carlos Alberini, chief executive officer of the group stated, “Overall, the strength of our businesses in Europe, Americas Wholesale and Licensing, combined with a disciplined and effective approach to manage our costs, enabled us to more than offset softness in our Americas Retail and Asia businesses in the quarter”.
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