×
8 052
Fashion Jobs
AESOP
eu Quality And Technical Manager
Permanent · London
HARVEY NICHOLS KNIGHTSBRIDGE
Brand Consultant - Dries Van Noten
Permanent · LONDON
PRIMARK
Stock Optimiser (Assistant Branch Merchandiser)
Permanent · READING
PRIMARK
SEO Analyst
Permanent · Reading
HEAD OFFICE
Social Marketing Performance Manager
Permanent · LONDON
JOHN LEWIS
Loss Prevention Partner
Permanent · DARTFORD
MULBERRY
Lifestyle Development And Production Manager
Permanent · LONDON
MULBERRY
Visual Merchandising Manager - Emea & North America
Permanent · LONDON
SELFRIDGES
Finance Manager
Permanent · LONDON
NEXT
Delivery Coordinator - Croydon Centrale
Permanent · CROYDON
NEXT
Van Driver - Manchester Trafford
Permanent · MANCHESTER
NEXT
Sales Coordinator - Bury st.Edmunds
Permanent · BURY ST EDMUNDS
GANT UK
Brand Consultant - Full Time
Permanent · LONDON
HUGO BOSS UK LTD.
Ecommerce Marketplace Manager Northern Hub
Permanent ·
HUGO BOSS UK LTD.
Finance Manager (Maternity Contract)
Permanent ·
HUGO BOSS UK LTD.
Finance Manager
Permanent ·
HUGO BOSS UK LTD.
Sales Executive Boss Menswear
Permanent ·
DR. MARTENS
Senior Account Manager
Permanent · LONDON
PRIMARK
SEO Analyst
Permanent · READING
EVERLAST GYMS
Assistant General Manager - Everlast Fitness
Permanent · NEWPORT
ESTEE LAUDER
Tom Ford Beauty & Artisan Fragrances - Area Sales And Education Manager (Midlands)
Permanent · Birmingham
ESTEE LAUDER
Travel Retail - jo Malone London - Account Coordinator - Gatwick.Wdf-North - 37.5h/Week - Full Time, Permanent
Permanent · Horley
Published
Sep 3, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Guess revenues tumble more than 40%

Published
Sep 3, 2020

Los Angeles-based fashion retailer Guess?, Inc. announced a 41.7% drop in its second-quarter net revenue on Wednesday, as the Covid-19 pandemic continued to have a significant negative impact on its operations.


Guess saw declines across all of its distribution channels due to the coronavirus pandemic - Instagram: @guess

 
For the second quarter ended August 1, 2020, the company reported net revenues of $398.5 million, down from $683.2 million in the prior-year period. In constant currencies, the decrease in revenues was 41.2%.
 
Declines were fairly consistent across Guess’ different distribution channels, with retail revenues in the Americas falling 44.7%, while wholesale revenues in the region decreased 51.6%. The company’s revenues in Europe and Asia fell 39.5% and 39.7%, respectively, while licensing revenues decreased 34.5%.

Guess stores, which closed in March due to the health crisis, began reopening in the second quarter. On average, the company's brick-and-mortar locations, 95% of which have now reopened, were closed for about 30% of Q2.

The retailer currently boasts 1,084 directly operated stores around the world, with a further 538 locations being operated by partners and distributors. 
 
Quarterly net loss at Guess totaled $20.4 million, or $0.31 per diluted share, compared to earnings of $25.3 million, or $0.35 per diluted share, in the same period in the previous year.
 
“The Covid-19 crisis continued to impact our business in the second quarter,” commented Guess CEO Carlos Alberini in a release. “We remained focused on managing what was in our control including reducing costs and optimizing inventory management and the use of capital. I believe that our efforts paid off, as we minimized our losses in spite of a 42% decrease in our revenues.”
 
In the first half of the fiscal year, Guess recorded net revenue of $658.8 million, a decrease of 46.0%, or 45.1% in constant currencies, compared to the $1.22 billion reported by the company in the same six-month period in the previous year.
 
In the Americas, retail revenues fell 50.8%, while wholesale revenues decreased 47.6%. Revenues also fell 43.3% in Europe and 46.2% in Asia. Licensing revenues declined 32.9%.
 
First-half net loss was $178.0 million, or $2.72 per diluted share, compared to net earnings of $3.9 million, or $0.05 per diluted share, in the prior-year period.
 
Due to the ongoing uncertainty surrounding the evolution of the Covid-19 pandemic, Guess has not provided financial outlook for the third quarter or full fiscal year 2021.
 
Nonetheless, Alberini struck an optimistic chord when discussing the company’s future. “We are well positioned for the second half of the year. I am very excited about our product offering and our marketing plan for the Holiday season,” he said.
 

Copyright © 2022 FashionNetwork.com All rights reserved.