Guess revenues climb 13%
Apparel retailer Guess?, Inc.’s revenue for the third quarter ended October 30, 2021, totaled $643.1 million, up 13.0% from $569.3 million in the prior-year period. In constant currencies, growth was 12.8%.
The Los Angeles-based company made particular progress in the Americas, where sales in its retail business rose 30% year over year to $169.6 million and wholesale revenues increased 64% to $59.0 million. The group’s licensing business also achieved solid growth of 37%, posting revenues of $26.6 million.
Alongside its usual year-over-year figures, Guess also provided a comparison of its latest Q3 results with those it reported two years ago, prior to the disruption caused by the Covid-19 pandemic. Compared to the third quarter ended November 2, 2019, when the company reported revenue of $643.1 million, its most recent Q3 revenues represented an increase of 4.4%. In constant currencies, growth was 2.1%.
Guess’ net earnings in this year’s third quarter came to $29.9 million, up 13.3% from $26.4 million last year and 140.5% from $12.4 million two years ago. Diluted earnings per share were $0.45, increasing 9.8% from $0.41 in the previous year’s third quarter and 150.0% from $0.18 the year before.
Looking at the first nine months of this year, Guess’ net revenue totaled $1.79 billion, representing a year-over-year increase of 45.9% from $1.23 billion and a decrease of 2.4% from $1.84 billion in the same period two years ago.
Year to date, net earnings were $102.9 million, or $1.55 per diluted share, compared to a loss of $151.6 million, or $2.35 per diluted share, a year ago, and earnings of $16.4 million, or $0.22 per diluted share, the year before.
In light of the ongoing uncertainty surrounding the Covid-19 pandemic, Guess said that it would not be providing detailed guidance for the fourth quarter or the full fiscal year. The company did, however, reveal that it currently expects its fourth-quarter revenues to be down in the mid-single digits versus the same period last year. Full-year revenues are expected to see a year-over-year decline in the low-single digits.
“We are confident in our plans for the holiday business. Our inventory position is strong, and our customers are responding well to our assortments,” said Guess CEO Carlos Alberini in a release. “I am very pleased with our performance for the current year but I am even more excited with what lies ahead for us. I believe that we are at an inflection point at Guess and I am very confident our business is well positioned to generate superior returns in the future.”
Guess currently has 1,052 directly operated stores in the Americas, Europe and Asia, while its partners and distributors operate another 558 locations, making for a distribution network that spreads over approximately 100 countries worldwide.
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