Home / Knowledge / News / Apparel/Garments / Guess? posts double digit growth in Asian market during Q2

Guess? posts double digit growth in Asian market during Q2

23
Aug '12
Guess? Inc. reported financial results for its second quarter ended July 28, 2012.

Second Quarter Fiscal 2013 Results

For the second quarter of fiscal 2013, the Company generated net earnings of $42.9 million, a 45.2% decrease compared to adjusted net earnings of $78.3 million for the second quarter of fiscal 2012. 

The prior-year adjusted net earnings excludes a settlement charge of $19.5 million ($17.6 million net of the related tax impact) associated with the settlement of the Company's relationship with one of its former European service providers. 

Diluted earnings per share decreased 41.7%, to $0.49, compared to adjusted diluted earnings per share of $0.84 for the prior-year quarter.  On a GAAP basis, second quarter fiscal 2013 net earnings decreased 29.3% and diluted earnings per share decreased 24.6%.

Paul Marciano, Chief Executive Officer, commented, "The second quarter was both rewarding and challenging for us.  While store traffic remained down in North America, our strategy to elevate our women's business appears to be working.  We are now focused on driving improvements in accessories, which has become increasingly competitive, and are also developing plans to refine our North American strategy where necessary to remain competitive. 

“Our European business remained stable, as we grew in newer markets in the north and east, while economic conditions continued to affect consumers, particularly in the south.  We also posted solid double digit growth in Asia and China has continued to exceed our expectations."

Mr. Marciano continued, "We are committed to developing the long-term global potential of the Guess? brand.  We will continue to manage our business prudently, focusing carefully on those things that are within our direct control. 

“While our initiatives may take longer than we had expected and the market place remains uncertain, we will continue to focus on providing a great customer experience and innovative products supported by our new and targeted marketing efforts.  With our strong financial position and cash generation power, our goal is to continue to deliver balanced returns to our shareholders – through growth of newer markets and concepts as well as through our dividend and share repurchase programs."

Total net revenue for the second quarter of fiscal 2013 decreased 6.2% to $635.4 million, from $677.2 million in the prior-year quarter.  In constant dollars, total net revenue increased 0.4%.

Click here to read more details:

Guess? Inc


Must ReadView All

Pic: Shutterstock

Textiles | On 8th May 2021

French Development Agency to invest $83m in Ivory Coast cotton sector

Over a period of five years, the French Development Agency (AFD) will ...

Pic: Juki

Apparel/Garments | On 8th May 2021

Japanese companies collaborate to develop sewing machine business

Juki Corporation and Pegasus Sewing Machine Mfg have entered into a...

Pic: Rocky Brands

Apparel/Garments | On 8th May 2021

Rocky Brands expands Made in America capabilities

Rocky Brands has expanded the offering of its Made in America product ...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Good tidings expected for textile industry

Textile Industry, Head honchos

Textile Industry
Head honchos

Increased need for online fitting solutions as retailers shift to...

Textile Industry, Head honchos

Textile Industry
Head honchos

Value of 'Made in India' should get more importance

Kriti Kanodia,

Kriti Kanodia

A TV show in 2012 where actor Sonam Kapoor <g...

Barry Goodwin,

Barry Goodwin

UK based Amba Projex Ltd designs, manufactures, and installs industrial...

Dr. Vijaya Kumar,

Dr. Vijaya Kumar

Dr MM Kariappa founded the Vogue Institute of Art & Design in 1996....

Giulio Cesareo, Directa Plus

Giulio Cesareo
Directa Plus

UK-based Directa Plus is one of the largest producers and suppliers...

Jacques Prigneaux, EDANA

Jacques Prigneaux
EDANA

EDANA has been the leading global association and voice of the nonwovens...

Michaela Griggs & Peggy Schulz, Barco Uniforms

Michaela Griggs & Peggy Schulz
Barco Uniforms

Founded in 1929, Barco Uniforms started as an apparel company for beauty...

Seema Gujral, Label Seema Gujral

Seema Gujral
Label Seema Gujral

<b>Seema Gujral</b>'s designs for her eponymous label revolve around...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Anjali Bhaskar has an experience of 12 years in the fashion industry. She...

Sailesh Singhania, Sailesh Singhania Label

Sailesh Singhania
Sailesh Singhania Label

The Sailesh Singhania label was created to promote handwoven sarees and...

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


May 2021

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


Advanced Search