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Guess revenue up 5.8% to $683 mn in Q2 2019

08
Sep '19
Pic: Guess
Pic: Guess
For Q2 of fiscal 2020 ending August 3, 2019, Guess, Inc's revenue increased 5.8 per cent to $683 million compared to $645.9 million in prior-year quarter. In constant currency, net revenue increased by 8.8 per cent. Total net revenue for first 6 months of fiscal 2020 increased 4.5 per cent to $1.22 billion compared to $1.17 billion in same prior-year period.

The Americas Retail revenues of Guess increased 0.9 per cent in US dollars and 1.2 per cent in constant currency in the second quarter. Retail comp sales including e-commerce increased 2 per cent in constant currency. Americas Wholesale revenues increased 22.3 per cent in US dollars and 22.4 per cent in constant currency. Europe revenues increased 9.1 per cent in US dollars and 14.1 per cent in constant currency. Retail comp sales including e-commerce decreased 3 per cent in US dollars and increased 1 per cent in constant currency. Asia revenues increased 0.6 per cent in US dollars and 5.2 per cent in constant currency. Retail comp sales including e-commerce decreased 13 per cent in US dollars and 8 per cent in constant currency, said Guess in a media statement.

"I am very pleased with our second quarter financial performance, which delivered strong operating profit growth. This performance exceeded our expectations and was driven by a solid top line increase, strong margin performance and effective expense management. During the quarter we increased revenues by 6 per cent in US dollars and 9 per cent in constant currency. Overall, our direct-to-consumer businesses, which include stores and e-commerce, performed in line with our expectations in all regions and our wholesale businesses in the Americas and Europe delivered a very strong performance compared to our expectations. Based on our second quarter performance, our strong inventory position and our expectations for the Fall and Holiday seasons, we are raising our guidance for the full year," said Carlos Alberini, chief executive officer of Guess.

"As we previously communicated, our team is finalising our strategic business planning process and we plan to share our findings and key strategic initiatives by the end of October. I look forward to sharing these findings and I couldn't be more excited to update you on our company's opportunities for global growth, profit improvement and value creation," added Alberini.

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

Fibre2Fashion News Desk – India


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