Home / Knowledge / News / Apparel/Garments / Guess? Q1 net earnings gain 71.9%

Guess? Q1 net earnings gain 71.9%

06
Jun '07
Guess? Inc reported financial results for the first quarter of its 2008 fiscal year, which ended May 5, 2007.

First Quarter 2008 Results :
For the first quarter of fiscal 2008, the Company reported record net earnings of $35.5 million, an increase of 71.9% compared to net earnings of $20.7 million for the recast quarter ended April 29, 2006. Diluted earnings per share increased 65% to $0.38 per share in the current quarter versus $0.23 per share in the prior year quarter.

Paul Marciano, Chief Executive Officer, commented, "The strength of our brand and the solid execution of our global strategy have driven these record results, which represented our 15th consecutive quarter of earnings growth. I am extremely pleased with our team's outstanding performance. All of our businesses generated double digit revenue growth, led by strong execution in our international operations."

"In Europe, the addition of Focus Europe, our contemporary line, and the growth of our existing businesses drove a 77% sales increase in the segment. Strong sales performance in South Korea drove Asian revenues higher and led to a 77% increase in our wholesale segment revenues."

Mr. Marciano continued, "Our North American retail business performed extremely well, posting its 17th consecutive quarter of same store sales growth. And the strength of our accessory lines drove licensing revenue growth of 42%. It is important to note that our footwear licensee'sbusiness has been expanding rapidly."


Must ReadView All

Pic: Dong Nhat Huy / Shutterstock.com

Apparel/Garments | On 20th Apr 2021

New guidance for Vietnam's apparel and footwear industry

The Australian Human Rights Commission has released new human rights...

Pic: Shutterstock

Textiles | On 20th Apr 2021

Egypt ready for world's largest textile factory by March 2022

Egypt is going full throttle with the construction of a textiles...

Pic: I Love Coffee dot Today / Shutterstock.com

Apparel/Garments | On 20th Apr 2021

COVID-19 lockdown halts garment production in parts of Cambodia

A 14-day lockdown imposed to curb the spread of COVID-19 pandemic has ...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Farmers who produce seeds earn 50 per cent more

Textile Industry, Head honchos

Textile Industry
Head honchos

Virtual reality would be the new normal

Textile Industry, Head honchos

Textile Industry
Head honchos

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

Benedetta Terraneo,

Benedetta Terraneo

Miko Srl, a subsidiary of US-based Sage Automotive Interiors and a member...

Ritu Oberoi,

Ritu Oberoi

Established in 2018, Forsarees is a socially driven business enterprise,...

Harleen Kaur,

Harleen Kaur

Established in 2017 and headquartered New York, the label Harleen Kaur...

Silverio Baranzano, Fitesa

Silverio Baranzano
Fitesa

Fitesa is a leader in the nonwoven fabrics industry, specialising in...

Ian Russell, Pireta

Ian Russell
Pireta

UK-based Pireta has developed a unique free-form process to add durable,...

Daniel Odermatt, Ventile

Daniel Odermatt
Ventile

Ventile is a registered trademark used to brand a special high-quality...

Sweta Tantia, Tahweave & Garo

Sweta Tantia
Tahweave & Garo

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

Niti Singhal, Twee In One

Niti Singhal
Twee In One

Best known for convertible clothing, Indian brand Twee In One by designer...

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


April 2021

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


Advanced Search