Home / Knowledge / News / Apparel/Garments / Guess? makes substantial progress toward many objectives
Guess? makes substantial progress toward many objectives
17
Mar '11
Guess? Inc reported financial results for the fourth quarter and fiscal year ended January 29, 2011.

Fourth Quarter Fiscal 2011 Highlights

• Global revenue increased 18% to a record of $757 million
• Operating earnings increased 20%; operating margin improved from 18.8% to 19.1%
• European revenue increased 43% in local currency and 32% in US dollars
• Asian revenue increased 23%
• North American revenue increased 8%; retail comp sales declined 1.1%

Fiscal Year 2011 Highlights

• Global revenue increased 17% to a record of $2.5 billion
• Operating earnings increased 13%; operating margin decreased from 16.9% to 16.3%
• European revenue increased 31% in local currency and 23% in US dollars
• Asian revenue increased 36%
• North American revenue increased 10%; retail comp sales increased 2.9%
• Dividend distributions totaled $247 million

Fourth Quarter Fiscal 2011 Results

For the fourth quarter of fiscal 2011, the Company reported record net earnings of $103.3 million, a 19.3% increase compared to net earnings of $86.6 million for the fourth quarter of fiscal 2010. Diluted earnings per share increased 19.4%, reaching $1.11, compared to $0.93 for the prior-year quarter. In the quarter, the Company completed an assessment of North American loyalty program breakage, which resulted in a one-time benefit to revenues of $6.7 million, or $0.05 per share.

Paul Marciano, Chief Executive Officer, commented, "This has been another successful year of record results where we made substantial progress toward many important objectives. We increased annual revenues in each of our businesses, which combined to drive double-digit revenue growth and a 19% increase in earnings per share.

"Our focus on international expansion continues to pay off, with Europe and Asia contributing nearly two-thirds of our annual revenue increase. We leveraged the tremendous global momentum of the Guess? brand, opening 237 new stores during the year. And we strengthened our infrastructure to support our future growth around the world."

Mr. Marciano continued, "We enter the new fiscal year excited and well positioned to execute on our long-term global strategies. Our focus continues to be on our brand and on great products that resonate with our customers worldwide. We are excited about the innovative and compelling new product designs and styles that our team has been working on for the upcoming seasons.

“We also continue to build our operational platform, developing a world class infrastructure that can support our global expansion. Our goal is to develop many strategic markets where our brand awareness is high, but we need additional distribution and infrastructure support. These strategies, bolstered by our strong financial position, will drive us to deliver shareholder value by leveraging the full potential of the Guess? brand worldwide."


Must ReadView All

Apparel/Garments | On 22nd Sep 2017

Govt announces new duty drawback rates for garments

The Government of India has today announced the new duty drawback...

Courtesy: ITMA

Textiles | On 22nd Sep 2017

ITMA 2019 to focus on smart garment technologies

ITMA 2019, the world's largest textile and garment technology...

Apparel/Garments | On 22nd Sep 2017

New US FTC rule for RN used on textile product labels

The US Federal Trade Commission recently streamlined requirements...

Interviews View All

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

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

September 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
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

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
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

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
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

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
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


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