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Guess reports FY20 net revenue of $2.68 bn

19
Mar '20
Pic: Guess
Pic: Guess
Guess, a designer and marketer of lifestyle collection of contemporary apparel and denim, posted 580.7 per cent jump in its net earnings to $96 million in complete fiscal 2020 ended on February 1, 2020 compared to $14.1 million in prior year. Net revenue in FY20 increased 2.6 per cent to $2.68 billion compared to $2.61 billion in the prior year. 
 
“I am very pleased to report that we had a strong fourth quarter performance, exceeding our guidance for earnings per share and delivering operating profit at the high end of our expectations. We closed the year with strong liquidity and a solid balance sheet, which positions us well to navigate through the current coronavirus crisis,” Carlos Alberini, chief executive officer of Guess, said in a press release. 
 
Net revenue in Q4 FY20 increased 0.6 per cent to $842.3 million compared to $837.1 million in the same period prior year. 
 
Americas retail revenues in Q4 FY20 decreased 4.1 per cent to $258.33 million. Retail comp sales including e-commerce decreased 3 per cent. Americas wholesale revenues in the quarter decreased 3.0 per cent to $41.88 million.
 
Europe registered 13.2 per cent jump in its revenues to $420.2 million. Asia revenues decreased 27.7 per cent to $95.46 million. Licensing revenues increased 22.7 per cent to $26.27 million.
 
Net revenue in FY20 increased 2.6 per cent to $2.68 billion compared to $2.61 billion in the prior year. 
 
Americas retail revenues decreased 1.6 per cent to $811.5 million. Retail comp sales including e-commerce were relatively flat. Americas wholesale revenues increased 9.1 per cent to $186.38 million. 
 
Europe revenues increased 9.2 per cent to $1.2 billion. Retail comp sales including e-commerce were relatively flat in US dollars.
 
Asia revenues decreased 10.8 per cent $346.21 million. Retail comp sales including e-commerce decreased 19 per cent in US dollars. Licensing revenues increased 3.2 per cent to $85.84 million.
 
“In the near term, we are actively managing the global situation, prioritising the health and well-being of our associates around the world. While we hope that the crisis will be temporary, we do expect it will have a significant negative impact on our financial results for the first quarter and may impact future results, including potential disruptions in our supply chain, Alberini said.
 
That said, we currently are unable to determine with any degree of accuracy the impact the crisis may have in the future on our financial results or how long it may last. As a result, we are not in a position to issue guidance for the first quarter or fiscal year 2021.”

Fibre2Fashion News Desk (JL)


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