Guess grows loss and revenue in Q1

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Guess grows loss and revenue in Q1

By Dan Berthiaume - 06/06/2019
Guess Inc. beat Wall Street expectations with generally positive financial results for the first quarter of fiscal 2020.

Guess saw its adjusted net loss grow 10% to $19.6 million from $17.8 million the first quarter of the previous fiscal year. However, the vertical apparel retailer also increased total net revenue for the first quarter 3% to $536.7 million, compared to $521.3 million in the prior-year quarter. U.S. same-store sales, including e-commerce, rose 4%. U.S. retail revenue climbed 3%.

Looking ahead, Guess expects consolidated net revenue in U.S. dollars to grow 4%-5% in the second quarter of fiscal 2020 and 3.5%-4.5% in the full fiscal year.

“I couldn’t be more excited about our company’s future,” said Carlos Alberini, CEO, Guess. “Guess today has a powerful global network, significant brand relevancy and is attracting a new generation of young customers who love our brand. We continue to see significant white space to grow globally and our opportunities to improve operations and reduce costs are very material. I am confident that our potential to create significant shareholder value is strong.”

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