Guess profit dips in Q4; to focus on international, G by Guess in 2012

Los Angeles -- Guess reported Wednesday that net earnings dipped 7.2% to $95.9 million for the quarter ended Jan. 28, compared with $103.3 million a year earlier.



Revenue for the quarter edged up 2.5% to $775.8 million, from $756.9 million. Same-store sales dropped 5% in the quarter.



The retailer’s greatest strength came from the performance of its Asian segment, which saw revenue surge 27.5% to $70.6 million in the fourth quarter.



“These results mark the end of a year in which we made significant progress on important initiatives that support our long-term objectives,” said Paul Marciano, CEO.



The brand opened 261 new stores globally during the year, and reached the $1 billion revenue mark in Europe for the first time. According to Marciano, Guess will continue to develop newer international markets in the year ahead and expand the G by Guess concept both internationally and domestically.