Guess Inc. recently announced that revenues grew 9 per cent to US $ 891.1 million for the fourth quarter, with the US fashion firm clocking a single-digit uptick in sales for the full year.
The Los Angeles-based firm said Europe revenues increased 9 per cent in US dollars, while Asis revenues surged 18 per cent for the quarter ending 3rd February. In the US, retail revenues increased 1 per cent, hurt by retail comparable sales (including e-commerce), which decreased 1 per cent. Meanwhile, US wholesale revenues surged 44 per cent, and licensing revenues increased 15 per cent.
For the fiscal year, total revenues rose 3 per cent to US $ 2.78 billion on growth across Europe, up 7 per cent, and Asia up 16 per cent, partially upset by declines across US retail and wholesale revenues.
“We are very pleased with our fourth quarter results, which exceeded our expectations for revenues, operating earnings and earnings per share, and capped an outstanding year for our Company,” said Carlos Alberini, CEO, Guess Inc.
Last month, Guess and global brand management firm WHP Global announced a definitive agreement to acquire New York-based fashion brand Rag & Bone.
