Home / Knowledge / News / Apparel/Garments / Weak performance globally keeps Guess Q1 revenue low
Weak performance globally keeps Guess Q1 revenue low
26
May '16
American apparel and accessories retailer Guess posted fall of 6 per cent in net revenue during Q1 fiscal 2017, ended April 2, 2016, to $448.81 million as compared to $478.82 million in the corresponding quarter last fiscal because of reduced revenue across all geographical areas.

Retail net revenue posted in Americas region during the quarter was $204.16 million as compared to $214.24 million in the corresponding quarter previously, a fall of 5 per cent. Wholesale revenue in the region stood at $32.79 million as compared to $37.27 million previously, a fall of 12 per cent.

In Europe, net revenue fell by 1 per cent during the quarter to $135.38 million as compared to $137.39 million previously.

Net revenue fell by 15 per cent in Asia during the quarter to $54.12 million ($64.03 million previously).

“The start to the year has been a bit more challenging than we anticipated especially in the Americas and to a lesser extent in Greater China,” Victor Herrero, CEO of Guess commented on the performance.

“We are still confident that we will be able to achieve the three year plan goals we provided in March this year, but with a different cadence than initially planned,” he said. “These developments are reflected in our guidance for the second quarter as well as our updated guidance for the full year.”

The company expects consolidated net revenue to increase between 0.5-2.5 per cent in the second quarter of fiscal 2017.

For full fiscal 2017, consolidated net revenue is expected to increase between 5.5-7.5 per cent. (MCJ)

Fibre2Fashion News Desk - India

Must ReadView All

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Igor Chapurin
Chapurin

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

Bani Batra

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

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
January 2017

January 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