Guess Inc. reported that development in Asia and soaring wholesale revenues drove the company’s 4 per cent first-quarter revenue increase to US $ 591.9 million.
According to the business, for the three months that ended on 4th May, retail revenues in America stayed unchanged, while comparable retail sales—including e-commerce—dropped by 7 per cent. Revenues from Americas Wholesale, however, increased by 21 per cent.
Revenues from overseas climbed 3 per cent in Asia, while revenues in Europe increased 1 per cent during the quarter. Retail comparable sales, including e-commerce, decreased 9 per cent. Revenue from licencing jumped by 21 per cent.
Guess reported a GAAP loss from operations of US $ 19.9 million for the first quarter of this year, up from US $ 0.9 million in the same period last year (including US $ 1.1 million in non-cash impairment charges made on certain long-lived store related assets and a US $ 3.1 million unfavourable currency translation impact).
“We are very pleased with our first quarter results, which exceeded our expectations for revenues and earnings per share,” said Carlos Alberini, Guess chief executive officer.
The American business stated that it anticipates a rise in fiscal 2025 revenues of between 10.7 per cent and 12.7 per cent, which would correspond with a 9 per cent to 11 per cent increase in second-quarter revenues.
Guess announced earlier this week that Andrew Rosen has been named executive chair of the company’s newly acquired Rag & Bone brand.
