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

Europe fights against microplastic release from textiles

Textiles | On 18th Jan 2018

Europe fights against microplastic release from textiles

The European Commission, the institution of the European Union, has...

Egypt starts building biggest textile city in Al-Sadat

Textiles | On 18th Jan 2018

Egypt starts building biggest textile city in Al-Sadat

Egypt has started construction of the biggest city for textiles and...

Vietnam targets $20 bn from export of footwear, bags

Apparel/Garments | On 18th Jan 2018

Vietnam targets $20 bn from export of footwear, bags

Vietnam targets to earn around $20 billion from the export of...

Interviews View All

Top executives
Textile & apparel bodies

The decision is transformational

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Sachin Sharma
Gem Enviro Management Pvt Ltd

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

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Marten Alkhagen
Swerea IVF AB

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

Tony Ward
Tony Ward

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

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Sonam & Paras Modi
SVA

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

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 2018

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
68.8%
No
13.5%
Skip
17.7%

Total Votes: 96

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
63.5%
No
29.2%
Skip
7.3%

Total Votes: 96

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
87.5%
No
9.4%
Skip
3.1%

Total Votes: 96

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
82.3%
No
8.3%
Skip
9.4%

Total Votes: 96


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