Home / Knowledge / News / Apparel/Garments / Net sales up 4.7% at Guess? in fiscal Q3

Net sales up 4.7% at Guess? in fiscal Q3

01
Dec '11
Guess? Inc. reported financial results for the third quarter of its 2012 fiscal year, which ended October 29, 2011.

Third Quarter Fiscal 2012 Highlights

• North American Retail revenues increased 5%
• European revenues increased 2% in US dollars and decreased 4% in local currency
• Asian revenues increased 18% in US dollars and 15% in constant dollars
• Operating profit grew 5%; operating margin was flat at 15.1%

Third Quarter Fiscal 2012 Results
For the third quarter of fiscal 2012, the Company generated net earnings of $66.3 million, a 4.0% decrease compared to net earnings of $69.1 million for the third quarter of fiscal 2011. Diluted earnings per share decreased 5.3%, reaching $0.71, compared to $0.75 for the prior-year quarter.

Paul Marciano, Chief Executive Officer, commented, "We are pleased to deliver third quarter earnings consistent with our expectations, even as economic pressures have intensified and are affecting consumer confidence in many of our markets, particularly in Europe. During the quarter, we made good progress on many key strategic initiatives.

Our efforts to elevate our brand in North America are yielding significant improvements in profitability. We enjoy momentum in Asia and the newer markets in Europe where our brand is well known but where our business is still under-penetrated. And we are focusing on sound execution, managing our inventories, expenses and capital prudently."

Mr. Marciano continued, "It is difficult to predict how long the current economic conditions may persist. As always, we plan to manage carefully and prudently, focusing on those things that we can directly control. Our goal is to improve productivity, expand our long term profitability and deliver outstanding returns to our shareholders, while always protecting our brand.

"Backed by our strong balance sheet, we are committed to pursuing the long term potential of our iconic lifestyle brand in a very strategic and disciplined way that is consistent with prevailing market conditions."

Total net revenue for the third quarter of fiscal 2012 increased 4.7% to $642.8 million, from $613.9 million in the prior-year quarter. In constant dollars, total net revenue increased 1.9%.

• The Company's retail stores in North America generated revenue of $265.6 million in the third quarter of fiscal 2012, a 4.7% increase from $253.7 million in the same period a year ago. Comparable store sales decreased 4.1% in local currency and 3.5% in US dollars for the third quarter of fiscal 2012, compared to the same period a year ago. The Company directly operated 495 retail stores in the United States and Canada at the end of the third quarter of fiscal 2012 versus 473 stores a year earlier.
• Net revenue from the Company's Europe segment increased 2.3% to $221.0 million in the third quarter of fiscal 2012, compared to $216.2 million in the prior-year period. In local currency, net revenue decreased 3.7%.


Must ReadView All

Pic: Shutterstock

Textiles | On 27th Feb 2020

Australia willing to consider FTA with India on RCEP lines

Australia is willing to consider a bilateral free trade agreement...

Pic: Shutterstock

Apparel/Garments | On 27th Feb 2020

Hun Sen asks PRC garment investors not to leave Cambodia

Prime Minister Hun Sen recently again told Chinese garment sector...

Pic: B.Zhou / Shutterstock.com

Retail | On 27th Feb 2020

Retail brands restrict China operations amid COVID-19

The outbreak of COVID-19 is disrupting business dynamics in China....

Interviews View All

Janak Dhamanwala & Sunil Dhamanwala, Jansun

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Krishnanand Tripathi, Textrade International Ltd

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Headhonchos, Textiles & allied industry

Headhonchos
Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

Marcello Galvanin,

Marcello Galvanin

Galvanin has more than 50 years of experience in the production of textile ...

Rajat Jaipuria,

Rajat Jaipuria

Activewear brand Soul Space promotes organic cotton farming and...

Lukas Hartmann,

Lukas Hartmann

Intex Consulting GmbH is a completely integrated enterprise resource...

Mr Hartmann Huth, Trevira GmbH

Mr Hartmann Huth
Trevira GmbH

Trevira GmbH is an innovative European manufacturer of high-value branded...

Larry L Kinn, Suominen Corporation

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Marcel Alberts, Eurofibers

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Sweta Agarwal, A Humming Way

Sweta Agarwal
A Humming Way

A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Priya Somaiya, Usha Social Services

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

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

Leave your Comments


February 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search