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 18th Aug 2017

Turkey imposes temporary duty on POY from 7 countries

Turkish ministry of economy has announced imposition of provisional...

Textiles | On 18th Aug 2017

GST return filing deadline for transitional credit

For businesses who want to avail the transitional input tax credit...

Apparel/Garments | On 18th Aug 2017

AEPC wants clarity on minimum wages for garment sector

The Apparel Export Promotion Council (AEPC) has urged the Indian...

Interviews View All

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Headhonchos
Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

Headhonchos
Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Lynda Kelly
Suominen Corporation

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

Eric Scholler
Groz-Beckert

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

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Wendell Rodricks
Wendell Rodricks

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

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

August 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
66.7%
No
16.7%
Skip
16.7%

Total Votes: 30

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
43.3%
No
36.7%
Skip
20.0%

Total Votes: 30

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
83.3%
No
6.7%
Skip
10.0%

Total Votes: 30

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
60.0%
No
10.0%
Skip
30.0%

Total Votes: 30


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