Guess, on the rise: revenue swells 2.6% while profit surge by 8.1% in 2019
The American fashion retailer reached sales of 2.7 billion dollars during the fiscal year 2019 driven by the European market.
Guess, on the rise. The American fashion retailer increased its revenue by 2.6% and its profit surged by 8.1% in 2019. Growth was mostly driven by the European market.
“We closed the year with strong liquidity and a solid balance sheet, which positions us well to navigate through the current coronavirus crisis,” said Carlos Alberini, CEO of the company, in a statement.
Sales reached 2.7 billion dollars in 2019 compared to 2.6 billion dollars in 2018. Its profit increased to 1.1 billion dollars compared to 939.6 million dollars from the previous year.
Guess’ positive results were boosted by the European market, where it saw a 13.2% growth, representing 1.2 billion dollars. In the rest of the territories, the company reduced its revenue with declines, 27.7% in Asia and 4.1% in the U.S.
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