Guess Q3 FY2019 revenue increase 10.3% to $605 mn

Source: https://www.fibre2fashion.com

Guess Inc, an American clothing brand and retailer, has recorded total net revenue increase of 10.3 per cent to $605.4 million for Q3 FY2019, compared to $549.0 million in the prior-year quarter. In constant currency, net revenue increased by 13.1 per cent. The GAAP net loss of the company was $13.4 million, compared to $2.9 million for Q3 FY2018.

The Americas retail revenues of the company decreased 0.1 per cent and increased 1.1 per cent in constant currency. The Americas wholesale revenues increased 15.5 per cent and 18.2 per cent in constant currency.

Europe revenues increased 14.8 per cent and 19.8 per cent in constant currency. Asia revenues increased 20.4 per cent and 21.8 per cent in constant currency.

“I am very pleased to report another quarter of strong operating performance with revenue growth of 10 per cent and 13 per cent in constant currency, significant growth in adjusted earnings from operations and adjusted operating margin finishing higher than our expectations despite unexpected currency headwinds. I am very encouraged by the overall sales momentum we are experiencing with positive comps in all regions in the third quarter, which speaks of the global strength and relevancy of the Guess brand,” said Victor Herrero, chief executive officer of Guess.

“This is truly an exciting time for our company as we continue to execute our turnaround. For this fiscal year, we are planning for positive comps in all regions and expecting every business segment to be profitable. Beyond the current year, we still have a lot of growth opportunities in Europe and Asia; the results in the Americas retail business have continued to show improvement; and we see more opportunities to reduce costs, particularly in logistics. More than ever, we remain focused on executing our strategic initiatives which are the pillars of our revenue and profit growth and our 7.5 per cent operating margin goal,” added Herrero.

The company’s expectations for the fourth quarter ending February 2, 2019 is to have consolidated net revenue increase between 4-6 per cent and increase of 10-10.5 per cent for entire FY2019 in terms of US dollars.



Categories: Apparel, Brands, Business, Europe, Retail, USA

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