Apparel Guess revenue up 2.9%

USA: US-based fashion brand Guess has unveiled results for its third quarter ended October 29, 2016. In the third quarter, the company reported net earnings of US $ 9.1 million, down 26.8 per cent from US $ 12.4 million in the third quarter of last year. USA: US-based fashion brand Guess has unveiled results for its third quarter ended October 29, 2016. In the third quarter, the company reported net earnings of US $ 9.1 million, down 26.8 per cent from US $ 12.4 million in the third quarter of last year.  Total net revenue during the quarter surged 2.9 per cent to US $ 536.3 million as against US $ 521 million in the same quarter last year.

Region-wise, Americas’ retail revenues plunged 4.7 per cent in US dollars and 4.6 per cent in constant currency; retail comp sales including e-commerce decreased 4.9 per cent in US dollars and 4.8 per cent in constant currency. Europe revenues zoomed 16.4 per cent in US dollars and 16.8 per cent in constant currency. Asia revenues surged 9.8 per cent in US dollars and 6.4 per cent in constant currency. Americas’ wholesale revenues dropped 4.3 per cent in US dollars and 2.2 per cent in constant currency.

During the quarter, operating earnings dropped 27.4 per cent to US $ 15.1 million from US $ 20.8 million in the same quarter last year. For the nine months ended October 29, 2016, the company reported GAAP net earnings of US $ 16.2 million, down 52.5 per cent from US $ 34.1 million last year. Total net revenue for the first nine months decreased 1 per cent to US $ 1.53 billion from US $ 1.55 billion in the prior-year period.