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‘Social Retail’ to the Rescue
By Crosby Renwick, [email protected]
The pundits say retail, as we’ve known it since the ancient Egyptians, is coming to an end. Ouch. That’s big. You have to admit the logic is not bad: When retail is literally everywhere, when we can buy virtually anything off our phones and have it delivered, why go to a store?
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Guess? earnings fall 56% in Q1
Los Angeles -- Guess? reported Thursday that adjusted net earnings for the quarter ended May 4 plummeted 56.1% to $11.7 million, from $26.6 million in the year-ago period.
According to CEO Paul Marciano, the results were better than the company had expected.
"Despite the continued global economic challenges … these earnings reflect the ongoing success within the company to globally streamline and improve productivity,” he said.