Home / Knowledge / News / Apparel/Garments / Guess? Inc delivers record revenues
Guess? Inc delivers record revenues
25
Aug '11
Guess?, Inc reported financial results for the second quarter of its 2012 fiscal year, which ended July 30, 2011.

Second Quarter Fiscal 2012 Highlights
• European revenues increased 30% in US dollars and 14% in local currency
• Asian revenues increased 31% in US dollars and 22% in constant dollars
• North American retail revenues increased 8%
• Adjusted operating margin was flat at 16.7%; GAAP operating margin was 13.8%

Second Quarter Fiscal 2012 Results
For the second quarter of fiscal 2012, the Company generated adjusted net earnings of $78.3 million, a 17.2% increase compared to net earnings of $66.8 million for the second quarter of fiscal 2011. Adjusted diluted earnings per share increased 16.7%, reaching $0.84, compared to $0.72 for the prior-year quarter. The adjusted net earnings excludes a settlement charge of $19.5 million, along with the related tax impact, associated with the pending settlement of the Company's relationship with one of its European service providers. On a GAAP basis, second quarter fiscal 2012 net earnings were $60.7 million and diluted earnings per share, including an unfavorable $0.19 impact from the settlement charge, totaled $0.65.

Paul Marciano, Chief Executive Officer, commented, "We are pleased with our financial performance in the second quarter. Our adjusted earnings exceeded our expectations for the quarter and we delivered record revenues, with growth in all regions of the world. Our international businesses continue to drive our growth, with Europe and Asia combining to deliver 80% of this quarter's revenue increase. In North America, our focus on inventory control and markdown management was evident in our results, as we posted a substantial increase in our retail profitability. Overall, our results demonstrate the ability of our team to manage our business effectively and execute well on our strategic initiatives."

Mr. Marciano continued, "This quarter's performance is a testament to the strength and momentum of the Guess? brand around the world. Recently, though, global economic and market conditions have become increasingly volatile, which could erode consumer confidence and have an impact on our customers' behavior. We will continue to monitor market conditions and manage our business prudently, with initiatives to enhance our productivity and profitability. With our diversified business model and strong management team, we have a proven track record of delivering solid results even during challenging times. Supported by our strong cash position and solid capital structure, we will hold fast to our long-term strategies and vision, focusing on measured growth as we position our brand to expand around the world."

Total net revenue for the second quarter of fiscal 2012 increased 17.3% to $677.2 million, from $577.1 million in the prior-year quarter. In constant dollars, total net revenue increased 9.5%. The Company's retail stores in North America generated revenue of $261.1 million in the second quarter of fiscal 2012, an 8.0% increase from $241.8 million in the same period a year ago. Comparable store sales decreased 3.4% in local currency and 1.9% in US dollars for the second quarter of fiscal 2012, compared to the same period a year ago. The Company directly operated 490 retail stores in the United States and Canada at the end of the second quarter of fiscal 2012 versus 448 stores a year earlier.


Must ReadView All

Sri Lanka’s apparel exports rise after EU GSP+ reinstatement

Apparel/Garments | On 18th Nov 2017

Sri Lanka’s apparel exports rise after EU GSP+ reinstatement

Sri Lanka’s apparel exports from January to September 2017 has...

Bangladesh plans 2 leather estates in Rajshahi, Chittagong

Apparel/Garments | On 18th Nov 2017

Bangladesh plans 2 leather estates in Rajshahi, Chittagong

Bangladesh Prime Minister Sheikh Hasina has said two more leather...

ASEAN, Hong Kong sign free trade agreement

Textiles | On 18th Nov 2017

ASEAN, Hong Kong sign free trade agreement

The Association of Southeast Asian Nations (ASEAN) and Hong Kong...

Interviews View All

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

November 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.5%
No
12.4%
Skip
19.1%

Total Votes: 89

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.8%
No
30.3%
Skip
7.9%

Total Votes: 89

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.5%
No
10.1%
Skip
3.4%

Total Votes: 89

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
80.9%
No
9.0%
Skip
10.1%

Total Votes: 89


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search