Uso de cookies Utilizamos cookies propias y de terceros para mejorar nuestros servicios y mostrarle publicidad relacionada con sus preferencias mediante el análisis de sus hábitos de navegación. Si continúa navegando, consideramos que acepta su uso. Puede obtener más información sobre nuestra: Política de cookies

The global fashion business journal

26 Aug 201904:44

Guess sales soar 14.7% in first quarter but losses remain

The US company has registered its seventh consecutive quarter of revenue growth, primarily due to the good evolution experienced in European and Asian markets.

31 May 2018 — 17:00
MDS
Share
Save

Guess sales soar 14.7% in first quarter but losses remain

 

 

Guess grows at the beginning of the year despite posting losses. The company, led by Víctor Herrero, ended the first quarter of its fiscal year (concluded on May 5) with a net loss of 21.2 million dollars (18.2 million euros), in line with the same period last year.

 

On the contrary, revenues increased by 14.7% to 521.3 million dollars (449 million euros), compared to 454.3 million dollars (391.3 million euros) posted in the same quarter of 2017. At constant exchange rates, turnover raised by 7.7%.

 

“We were able to expand the Company’s operating margin, despite cost pressures related to our transition to our new distribution center in Europe,” said Guess’ chief executive officer Víctor Herrero. “Turning to the Americas, I am especially proud of the work that has been accomplished in retail where we ended the quarter with positive comps while being significantly less promotional.”

 

 

 

 

By regions, retail sales in American decreased by 1.4% to 171.3 million dollars (147.5 million euros), while wholesale revenues reached 40.6 million dollars (34.9 million euros), 13.4% up.

 

In Europe, Guess recorded sales of 205.4 million dollars (176.9 million euros), 24% more, while in Asia, the company achieved a turnover of 40.6 million dollars (34.9 million euros), up 33% from prior year.

 

Guess results were also favoured by its licensing business, which grew 23.5% in the first quarter to 19.7 million dollars (16.9 million euros).

 

On May 5, 2018, Guess directly operated 1,020 retail stores worldwide, while the company’s licensees and distributors operated 624 additional stores. The group was present in approximately 100 countries.

Advertising
Comment
Share
Participation rules

info@themds.com

 

Validation policy for comments: 

 
MDS does not perform prior verification for the publication of comments. However, to prevent anonymous comments from affecting the rights of third parties without the ability to reply, all comments require a valid email address, which won’t be visible or shared.
 
Enter your name and email address to be able to comment on this news: once you click on the link you will find within your verification email, your comment will be published.

0 comments — Be the first to comment
...