Home / Knowledge / News / Apparel/Garments / Net sales up 4.7% at Guess? in fiscal Q3
Net sales up 4.7% at Guess? in fiscal Q3
01
Dec '11
Guess? Inc. reported financial results for the third quarter of its 2012 fiscal year, which ended October 29, 2011.

Third Quarter Fiscal 2012 Highlights

• North American Retail revenues increased 5%
• European revenues increased 2% in US dollars and decreased 4% in local currency
• Asian revenues increased 18% in US dollars and 15% in constant dollars
• Operating profit grew 5%; operating margin was flat at 15.1%

Third Quarter Fiscal 2012 Results
For the third quarter of fiscal 2012, the Company generated net earnings of $66.3 million, a 4.0% decrease compared to net earnings of $69.1 million for the third quarter of fiscal 2011. Diluted earnings per share decreased 5.3%, reaching $0.71, compared to $0.75 for the prior-year quarter.

Paul Marciano, Chief Executive Officer, commented, "We are pleased to deliver third quarter earnings consistent with our expectations, even as economic pressures have intensified and are affecting consumer confidence in many of our markets, particularly in Europe. During the quarter, we made good progress on many key strategic initiatives.

Our efforts to elevate our brand in North America are yielding significant improvements in profitability. We enjoy momentum in Asia and the newer markets in Europe where our brand is well known but where our business is still under-penetrated. And we are focusing on sound execution, managing our inventories, expenses and capital prudently."

Mr. Marciano continued, "It is difficult to predict how long the current economic conditions may persist. As always, we plan to manage carefully and prudently, focusing on those things that we can directly control. Our goal is to improve productivity, expand our long term profitability and deliver outstanding returns to our shareholders, while always protecting our brand.

"Backed by our strong balance sheet, we are committed to pursuing the long term potential of our iconic lifestyle brand in a very strategic and disciplined way that is consistent with prevailing market conditions."

Total net revenue for the third quarter of fiscal 2012 increased 4.7% to $642.8 million, from $613.9 million in the prior-year quarter. In constant dollars, total net revenue increased 1.9%.

• The Company's retail stores in North America generated revenue of $265.6 million in the third quarter of fiscal 2012, a 4.7% increase from $253.7 million in the same period a year ago. Comparable store sales decreased 4.1% in local currency and 3.5% in US dollars for the third quarter of fiscal 2012, compared to the same period a year ago. The Company directly operated 495 retail stores in the United States and Canada at the end of the third quarter of fiscal 2012 versus 473 stores a year earlier.
• Net revenue from the Company's Europe segment increased 2.3% to $221.0 million in the third quarter of fiscal 2012, compared to $216.2 million in the prior-year period. In local currency, net revenue decreased 3.7%.

Must ReadView All

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Pakistan's Finance Minister Mohammad Ishaq Dar presenting Budget 2017-18 in National Assembly in Islamabad on May 26. Courtesy: PID, Pakistan

Textiles | On 27th May 2017

Pakistan Budget 2017-18 proposes 4 new measures

To support the textile sector in Pakistan, finance minister Mohammad...

Textiles | On 27th May 2017

Indian exports can touch $325 bn in 2017-18: FIEO

Indian exports are on upward trend in last few months as the country...

Interviews View All

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


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