×
69 582
Fashion Jobs
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time - ny 59th st
Permanent · NEW YORK
SACK OFF 5TH
Asset Protection Guard
Permanent · FARMINGTON HILLS
JCREW
Merchandise Planner
Permanent · New York
MACY'S
Asset Protection Detective, Pleasanton Stoneridge - Part Time
Permanent · Pleasanton
MACY'S
Asset Protection Officer, West Virginia - Full Time (2840)
Permanent · Martinsburg
MACY'S
Asset Protection Investigator, West Virginia - Part Time (2840)
Permanent · Martinsburg
MACY'S
Asset Protection Detective, Coronado Center - Part Time
Permanent · Albuquerque
MACY'S
Asset Protection Detective, Roosevelt - Part Time
Permanent · Philadelphia
MACY'S
Asset Protection Officer, West Virginia - Part Time (2840)
Permanent · Martinsburg
MACY'S
Manager, Merchandise Execution
Permanent · Aventura
MACY'S
Manager, Asset Protection
Permanent · Capitola
MACY'S
Manager, Merchandise Execution
Permanent · Boca Raton
UNDER ARMOUR
Stock Teammate, Part-Time 5am Shift, $15 Per Hour
Permanent · TANNERSVILLE
UNDER ARMOUR
Stock Lead, ft
Permanent · WOODSTOCK
URBN
Assistant General Manager (m&v)
Permanent · GLEN MILLS
URBN
Free People Senior Merchandise Planner
Permanent · PHILADELPHIA
L'OREAL GROUP
Analyst - Supply Chain
Permanent · Streetsboro
L'OREAL GROUP
Payroll, Senior Business Analyst (IT Liaison) – l’Oreal Corporate Payroll
Permanent · St. Petersburg
L'OREAL GROUP
Senior Manager- Human Resources, Luxe Supply Chain
Permanent · South Brunswick Township
PRANA
Director, Strategic Accounts & Sales Business Development
Permanent · CARLSBAD
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time - Stanford
Permanent · PALO ALTO
ROSS
Store Protection Specialist
Permanent · Tampa
Published
May 28, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Guess profits bolstered by improved margins

Published
May 28, 2021

Los Angeles-based fashion retailer Guess?, Inc. (Guess) reported net earnings of $12.0 million, or $0.18 per diluted share, for the first quarter ended May 1, 2021, on Thursday, figures representing solid progress compared to the Q1 losses posted by the company in the last two years.


Guess achieved considerable improvements in its margins in Q1 - Instagram: @guess / @vicoolyasaida

 
In the same period in the previous year, which was strongly affected by the impact of pandemic-related store closures, Guess reported a net loss of $157.7 million, or $2.40 per diluted share. In the first quarter ended May 4, 2019, the company’s net loss was $21.4 million, or $0.27 per diluted share.
 
When compared to last year’s first quarter, the growth in the retailer’s profits is hardly surprising, considering the year-over-year increase of 99.8% in its Q1 net revenues, which totaled $520.0 million this year, up from $260.3 million in the prior-year period, when sales were decimated by the health crisis. In constant currencies the rise was 90.3%.

The company’s European revenues saw the strongest growth, posting a 127.1% year-over-year increase in revenue, followed by a 108.5% rise in retail revenues in the Americas and a 75.6% increase in wholesale revenues in the same region. Asian revenues increased 37.8%, while licensing revenues climbed 66.4%.
 
However, when compared to the same period two years ago, Guess’ latest first-quarter revenues registered a decline of 3%, or 5% in constant currencies.
 
Bottom-line growth was therefore achieved thanks to the company’s 5.1% operating margin in the quarter, which represented an expansion of more than 900 basis points compared to the same period two years ago. Furthermore, Guess’ gross margin expanded by almost 700 basis points over the two-year period, while its SG&A rate improved by over 200 basis points.
 
“We firmly believe that this strong performance is a direct result of the transformational work we have done at the company,” explained Guess co-founder and chief creative officer Paul Marciano in a release. “This transformation touched every area of our business, including initiatives to elevate our brand and our product, the acceleration of our e-commerce business, the optimization of our global footprint and brand portfolio, the reorganization of our team globally and the execution of significant cost reductions throughout our operation.”
 
Due to the ongoing certainty surrounding the Covid-19 pandemic, Guess did not provide detailed financial guidance. The company did, however, report that it currently expects both its second quarter and full-year revenues to be down in the mid-single digits compared to the equivalent periods two years ago.
 
“We remain focused on executing our strategic business plan and now believe that in the current year we will […] reach an operating margin of about 8.6%,” added Guess CEO Carlos Alberini. “Furthermore, we are well on track to achieve our long-term 10% operating margin target but now a year earlier than we anticipated. We believe that we are at an inflection point for our company.”

Copyright © 2023 FashionNetwork.com All rights reserved.