U.S. fashion brand Guess Inc., has posted Q2 net revenues of US $ 664.5 million, accounting for a 3 per cent surge. The growth is fueled by robust international sales, with Europe revenues climbing 9 per cent, following 11 per cent retail company sales growth, while Asia saw a 19 per cent, along with a 2 per cent retail company sales boost.
However, the Americas faced challenges, with retail revenues sliding 8 per cent and company sales going down by 6 per cent. Though Q2 saw net earnings of US $ 39 million, a 63 per cent increase YoY, yet H1, net earnings declined 15 per cent to US $ 27.2 million, and revenues dipped slightly from US $ 1.24 billion to US $ 1.23 billion.
Carlos Alberini, CEO of Guess stated, “Most of our businesses delivered better-than-expected operating results, driven by solid revenue performance, strong gross margin results and effective cost management, which contributed to an operating profit of US $ 65 million and a 9.7 per cent operating margin for the period, well ahead of our expectations.”
