Home / Knowledge / News / Apparel/Garments / Guess? reports record revenues and earnings in Q2

Guess? reports record revenues and earnings in Q2

04
Aug '06
Apparel retailer Guess? Inc reported financial results for the second quarter ended July 1, 2006.

For the second quarter ended July 1, 2006, the company reported that net earnings increased by 230% to $13.7 million compared to net earnings of $4.2 million for the quarter ended July 2, 2005. Diluted earnings per share increased 233.3% to $0.30 per share in the current quarter versus $0.09 per share in the second quarter last year.

Paul Marciano, Co-Chairman and Co-CEO, said, "We are very pleased with our financial performance this quarter. We exceeded revenue and earnings targets in all our businesses, and delivered record revenues and earnings for the period.”

Marciano continued, "Our improved operating margin performance during the period highlights management's focus on the bottom line. We were able to increase gross margins and leverage SG&A expenses considerably. As we entered the back-to-school selling season, our inventories were very clean and the initial sell throughs for seasonal product have been very encouraging, as demonstrated by our July same store sales increase of 10.7%. While we remain cautious regarding consumer spending and customer traffic, we are confident about our business growth in Europe and licensing expansion in all categories."

Total net revenue for the second quarter of 2006 increased 29.6% to $231.0 million from $178.2 million in the second quarter of 2005. Its retail stores in the US and Canada generated revenue of $163.9 million in the 2006 second quarter, a 23.4% increase from $132.9 million, as reported in the prior year period.


Must ReadView All

Pic: ECOS

Textiles | On 22nd Apr 2021

ECOS urges EC to apply ecodesign principles to textile products

The international NGO Environmental Coalition on Standards (ECOS) has ...

Pic: Salvatore Ferragamo

Apparel/Garments | On 22nd Apr 2021

Salvatore Ferragamo launches new platform to discuss sustainability

Italian luxury goods company Salvatore Ferragamo has launched...

Pic: Lululemon

Apparel/Garments | On 22nd Apr 2021

Canadian retailer Lululemon announces sustainability initiatives

Canada-based Lululemon Athletica has announced 2 new initiatives that ...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Social media critical in regeneration of businesses

International apparel brands, Head honchos

International apparel brands
Head honchos

Launched first collection at onset of Covid

Textile Industry, Head honchos

Textile Industry
Head honchos

Good tidings expected for textile industry

Akash Sehgal,

Akash Sehgal

Part of retail and hospitality conglomerate Landmark Group in Dubai,...

Himanshu Fogla,

Himanshu Fogla

Jumac, pioneers in spinning can manufacturing in India, was founded in...

Bharat Ahuja,

Bharat Ahuja

A mono store brand, <b>Bharat Ahuja's</b> Desire Design Studio has emerged ...

Johann-Philipp Dilo, Dilo Group

Johann-Philipp Dilo
Dilo Group

German company Dilo Group is one of the leading equipment suppliers of...

Daniel Roxbury, University of Rhode Island

Daniel Roxbury
University of Rhode Island

Assistant professor Daniel Roxbury and former URI graduate student...

Thomas Ong P S, NanoTextile

Thomas Ong P S
NanoTextile

Malaysian company NanoTextile Sdn Bhd taps into the potentials of...

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...

Sweta Tantia, Tahweave & Garo

Sweta Tantia
Tahweave & Garo

Designer Sweta Tantia owns Garo, a couture indutva or ethnicwear brand,...

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


April 2021

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


Advanced Search