Home / Knowledge / News / Results/Reports / Gaap net earnings of Guess soar 67.8% in Q2FY19

Gaap net earnings of Guess soar 67.8% in Q2FY19

31
Aug '18
Courtesy: Guess
Courtesy: Guess
For the second quarter of fiscal 2019, Guess has recorded Gaap net earnings of $25.5 million, a 67.8 per cent elevation compared to $15.2 million for the second quarter of fiscal 2018. Gaap diluted earnings per share has also soared 72.2 per cent to $0.31 during the second quarter of fiscal 2019, compared to $0.18 for the prior-year quarter.

The US-based company has posted adjusted net earnings of $29.5 million, 83.5 per cent growth compared to $16.1 million for the second quarter of fiscal 2018. Adjusted diluted earnings per share increased 89.5 per cent to $0.36, compared to $0.19 for the prior-year quarter.

Total net revenue for reported period also went up 13.7 per cent to $645.9 million, compared to $568.3 million in the prior-year quarter. In constant currency, net revenue increased by 12.2 per cent.

For the six months ended August 4, 2018, the company recorded Gaap net earnings of $4.3 million, compared to Gaap net loss of $6.1 million for the six months ended July 29, 2017. Gaap diluted earnings per share was $0.05 for the six months ended August 4, 2018, compared to Gaap diluted loss per share of $0.08 for the same prior-year period.

The adjusted net earnings were $11.6 million, compared to adjusted net loss of $3.3 million for the six months ended July 29, 2017. Adjusted diluted earnings per share were $0.14, compared to adjusted diluted loss per share of $0.04 for the prior-year period. Total net revenue for the first six months of fiscal 2019 increased 14.1 per cent to $1.17 billion, compared to $1.02 billion 

"I am pleased to report that our second quarter results finished above the high-end of our expectations for adjusted operating margin and adjusted earnings per share. Overall, total Company revenues increased 14 per cent in US dollars and 12 per cent in constant currency, driven by continued momentum in Europe and Asia. The second quarter marked another quarter of operating margin expansion for the Company, with a 70 basis points increase in Gaap operating margin and 130 basis points increase in adjusted operating margin. In addition, I am very encouraged by the trends in our Americas Retail business where we posted another quarter of positive comps and expanded our operating margin," Victor Herrero, chief executive officer, said.

"Overall, I am very pleased by the momentum we are experiencing across the globe. We are now planning for positive comps in all regions, including the Americas. Looking forward, I feel confident that the 'turnaround' has only just begun, as we are well positioned to exit this fiscal year with every business segment profitable and the Company firmly on the path to our 7.5 per cent operating margin goal by continuing to execute on our strategic initiatives," Herrero concluded. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: Prime Minister's Office, UK

Textiles | On 15th Nov 2018

British PM May secures cabinet support on Brexit

The British cabinet on 14 November backed a draft withdrawal...

India expands paperless processing of export documents

Apparel/Garments | On 15th Nov 2018

India expands paperless processing of export documents

To improve ease of conducting business and promote paperless...

Pak textile mills assured of ECC decision implementation

Textiles | On 15th Nov 2018

Pak textile mills assured of ECC decision implementation

The Pakistani prime minister’s advisor for commerce, textile,...

Interviews View All

Top executives, Indian retail players

Top executives
Indian retail players

Walmart's acquisition of Flipkart endorses the humongous opportunities in...

Abhishek Samdaria, Reflete

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Marazban F Velati, Sutlej Textiles & Industries limited

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Paolo Crespi,

Paolo Crespi

For.Tex is an Italy-based leading producer of dyes and thickeners, and is...

Italtex,

Italtex

Italtex is a leading studio publishing fabric trend-books since 1959....

Tom,

Tom

<div>Inkbank is a leading supplier of inkjet inks and inkjet printing...

Eric Scholler, Groz-Beckert

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Robin Grankvist, OrganoClick AB

Robin Grankvist
OrganoClick AB

Robin Grankvist talks about PFCs, additives and various chemicals used in...

Isabel Herranz, European School of Business & innovation

Isabel Herranz
European School of Business & innovation

Cutting-edge ideas like the Internet of Things and artificial intelligence ...

Anisha Chaudhari, Threads & Shirts

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Amiben Shroff, Shrujan

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Samar Firdos, Arvind Ltd

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

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


November 2018

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

news category


Related Categories:

Advanced Search