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Guess Q3 fiscal 2020 revenues increase 2% to $616 mn

29
Nov '19
Pic: Guess?
Pic: Guess?
Total net for Guess, Inc increased 1.7 per cent to $615.9 million for Q3 of fiscal 2020 ending November 2, 2019, compared to $605.4 million in prior-year quarter. In constant currency, net revenue increased by 4.2 per cent. The company recorded GAAP net earnings of $12.4 million, up 192.4 per cent compared to GAAP net loss of $13.4 million for Q3.

Americas Retail revenues decreased 4.9 per cent in US dollars and 4.5 per cent in constant currency. Retail comp sales including e-commerce decreased 3 per cent in US dollars and constant currency. Americas Wholesale revenues increased 7 per cent in US dollars and 8.1 per cent in constant currency.

Europe revenues increased 9.1 per cent in US dollars and 13.2 per cent in constant currency. Retail comp sales including e-commerce increased 1 per cent in US dollars and 5 per cent in constant currency.

Asia revenues decreased 8 per cent in US dollars and 4.6 per cent in constant currency. Retail comp sales including e-commerce decreased 21 per cent in US dollars and 19 per cent in constant currency.

“I am very pleased to report that we delivered operating earnings and earnings per share above the high-end of our expectations for the period. Overall, the strength of our businesses in Europe, Americas Wholesale and Licensing, combined with a disciplined and effective approach to manage our costs, enabled us to more than offset softness in our Americas Retail and Asia businesses in the quarter. For the full year, we are maintaining the high-end of our guidance and raising the low-end. This speaks to the strength of our global brand and the power of our diversified business model which provides us with multiple levers to continue to increase revenues and improve profitability, said Carlos Alberini, chief executive officer of Guess, Inc.

“As we previously communicated, we will be hosting an Investor Day on December 3 in New York City. During the event we will present our strategic business plan and key strategic initiatives for the next five years. I couldn’t be more excited to share our plan and provide an update on our Company’s opportunities for global growth, profit improvement and value creation.”

For the nine months ending November 2, 2019, the company recorded GAAP net earnings of $16.4 million, a 279.3 per cent increase compared to GAAP net loss of $9.1 million for the nine months ending November 3, 2018.

Total net revenue for the first nine months of fiscal 2020 increased 3.6 per cent to $1.84 billion, compared to $1.77 billion in the same prior-year period. In constant currency, net revenue increased by 7.1 per cent.

Americas Retail revenues decreased 0.4 per cent in US dollars and increased 0.1 per cent in constant currency. Retail comp sales including e-commerce increased 1 per cent in US dollars and constant currency. Americas Wholesale revenues increased 13.2 per cent in US dollars and 14.3 per cent in constant currency.

Europe revenues increased 7.3 per cent in US dollars and 13.3 per cent in constant currency. Retail comp sales including e-commerce decreased 1 per cent in US dollars and increased 4 per cent in constant currency.

Asia revenues decreased 2.2 per cent in US dollars and increased 2.2 per cent in constant currency. Retail comp sales including e-commerce decreased 16 per cent in US dollars and 12 per cent in constant currency.

For the fourth quarter of fiscal 2020, the company expects a consolidated net revenue increase of 1-2 per cent on reported basis and increase of 2.5-3.5 per cent on constant currency basis. For the full fiscal year 2020, the company expects the revenue to increase by 2.7-3 per cent on reported basis and 5.7-6 per cent on constant currency basis.

Guess, Inc designs, markets, distributes and licenses a lifestyle collection of contemporary apparel, denim, handbags, watches, eyewear, footwear and other related consumer products.

Fibre2Fashion News Desk (PC)


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