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

Apparel/Garments | On 28th Apr 2017

Continue existing Duty Drawback, ROSL scheme post GST: TEA

Tiruppur Exporters' Association (TEA) has made requisitions to...

Courtesy: AAFA

Fashion | On 28th Apr 2017

Andrew Rosen, Stuart Vevers among AAFA awardees

Andrew Rosen, founder and CEO of Theory, Stuart Vevers of Coach, Nick ...

Textiles | On 27th Apr 2017

Maharashtra govt working on second textiles policy

The textiles department of the government of Maharashtra is working...

Interviews View All

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Lynda Kelly
Suominen Corporation

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

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Mohammad Hassan
Biax Fiberfilm

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

Bani Batra

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

Sonam & Paras Modi
SVA

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

Igor Chapurin
Chapurin

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

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:
April 2017

April 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



X