Home / Knowledge / News / Apparel/Garments / Q4FY16 net slips 11.4% at apparel marketer Guess
Q4FY16 net slips 11.4% at apparel marketer Guess
18
Mar '16
For the fourth fiscal quarter ended January 30, 2016, net earnings at apparel marketer Guess slipped to $47.8 million, an 11.4 per cent drop from $53.9 million for the fourth quarter of fiscal 2015.

A Guess press release said diluted earnings per share too decreased 9.5 per cent to $0.57 for the fourth quarter of fiscal 2016 from $0.63 for the prior fiscal's fourth quarter.

“The negative impact of currency on earnings per share in the fourth quarter of fiscal 2016 was approximately $0.19 per share,” the company explained.

Total net revenue for the reporting quarter also declined 5.5 per cent year over year to $658.3 million, while in constant currency, total net revenue increased 0.6 per cent.

Operating earnings for the fourth quarter of fiscal 2016 dipped 4.4 per cent year on year to $70.0 million, which includes a $4.5 million unfavourable currency translation impact.

Operating margin in the fourth quarter was relatively flat at 10.6 per cent compared to 10.5 per cent in the previous fiscal's same period.

“The favourable impact from lower store impairment charges was mostly offset by the negative impact from currency exchange rate fluctuations on the operating margin,” Guess observed.

The negative impact of currency on operating margin for the fourth quarter of fiscal 2016 was roughly 180 basis points.

Net earnings for the full fiscal of 2016 were $81.9 million, down 13.4 per cent from $94.6 million the company posted in fiscal 2015.

Correspondingly, diluted earnings per share also declined 13.5 per cent year over year to $0.96, while negative impact of currency on earnings per share was approximately $0.43 per share.

Total net revenue for fiscal 2016 fell 8.8 per cent to $2.20 billion, from $2.42 billion in the earlier fiscal's fourth quarter and in constant currency, total net revenue decreased 0.9 per cent.

Operating earnings for fiscal 2016 descended 3.6 per cent from a fiscal ago period to $121.4 million, which includes a $10.3 million unfavourable currency translation impact,

Operating margin for fiscal 2016 increased 30 basis points to 5.5 per cent as against 5.2 per cent in the prior fiscal.

The increase in operating margin was driven by lower store impairment charges and higher initial mark-ups, partially offset by the unfavourable impact from currency exchange rate fluctuations.

“The negative impact of currency on operating margin for fiscal 2016 was roughly 140 basis points,” the apparel marketer noted. (AR)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: Raymond

Apparel/Garments | On 28th Jun 2017

Raymond plans to invest Rs 1,400 crore in Amravati plant

Raymond, Indian textiles and apparel major, has decided to invest Rs...

Textiles | On 28th Jun 2017

GST and textiles industry: Analysis and opinion

The Goods and Services Tax (GST) is at long last all set to be rolled ...

Textiles | On 28th Jun 2017

India probing dumping of polyester yarn by China

Indian government is probing anti-dumping allegations against a...

Interviews View All

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Vasanth Kumar
Max Fashion India

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

Mohammad Hassan
Biax Fiberfilm

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

Ashok Desai
Bombay Textile Research Association

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

Marcel Alberts
Eurofibers

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

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Jay Ramrakhiani
Occasions Elegance Wear

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

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:
July 2017

July 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