Home / Knowledge / News / Apparel/Garments / Guess? posts double digit growth in Asian market during Q2
Guess? posts double digit growth in Asian market during Q2
23
Aug '12
Guess? Inc. reported financial results for its second quarter ended July 28, 2012.

Second Quarter Fiscal 2013 Results

For the second quarter of fiscal 2013, the Company generated net earnings of $42.9 million, a 45.2% decrease compared to adjusted net earnings of $78.3 million for the second quarter of fiscal 2012. 

The prior-year adjusted net earnings excludes a settlement charge of $19.5 million ($17.6 million net of the related tax impact) associated with the settlement of the Company's relationship with one of its former European service providers. 

Diluted earnings per share decreased 41.7%, to $0.49, compared to adjusted diluted earnings per share of $0.84 for the prior-year quarter.  On a GAAP basis, second quarter fiscal 2013 net earnings decreased 29.3% and diluted earnings per share decreased 24.6%.

Paul Marciano, Chief Executive Officer, commented, "The second quarter was both rewarding and challenging for us.  While store traffic remained down in North America, our strategy to elevate our women's business appears to be working.  We are now focused on driving improvements in accessories, which has become increasingly competitive, and are also developing plans to refine our North American strategy where necessary to remain competitive. 

“Our European business remained stable, as we grew in newer markets in the north and east, while economic conditions continued to affect consumers, particularly in the south.  We also posted solid double digit growth in Asia and China has continued to exceed our expectations."

Mr. Marciano continued, "We are committed to developing the long-term global potential of the Guess? brand.  We will continue to manage our business prudently, focusing carefully on those things that are within our direct control. 

“While our initiatives may take longer than we had expected and the market place remains uncertain, we will continue to focus on providing a great customer experience and innovative products supported by our new and targeted marketing efforts.  With our strong financial position and cash generation power, our goal is to continue to deliver balanced returns to our shareholders – through growth of newer markets and concepts as well as through our dividend and share repurchase programs."

Total net revenue for the second quarter of fiscal 2013 decreased 6.2% to $635.4 million, from $677.2 million in the prior-year quarter.  In constant dollars, total net revenue increased 0.4%.

Click here to read more details:

Guess? Inc

Must ReadView All

Courtesy: H&M

Apparel/Garments | On 30th Mar 2017

H&M group's sales increase 7% in 3 months to Feb '17

The H&M group's sales including VAT amounted to SEK 54,369 million...

Textiles | On 30th Mar 2017

Vietnam’s textile & garment exports earn $4bn in Jan-Feb

Vietnam earned $4 billion from textile and garment exports in the...

Textiles | On 30th Mar 2017

India Inc should work for July 1 GST roll out: Fin sec

The Goods and Services Tax (GST) will take India into a very exciting ...

Interviews View All

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Tony Ward
Tony Ward

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

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search