Guess, a US-based designer and marketer of lifestyle collection of contemporary apparel and denim, reported 29.9 per cent decrease in its revenue to $1.88 billion during fiscal 2021 that ended on January 30, 2021 compared to the revenue of $2.68 billion in the prior fiscal. The company incurred a net loss of $80.7 million (FY20: net earnings $101.2 million).

 

Guess, a US-based designer and marketer of lifestyle collection of contemporary apparel and denim, reported 29.9 per cent decrease in its revenue to $1.88 billion during fiscal 2021 that ended on January 30, 2021 compared to the revenue of $2.68 billion in the prior fiscal. The company incurred a net loss of $80.7 million (FY20: net earnings $101.2 million).#

“During the year, we made great progress executing our strategic plan and were able to accelerate the implementation of several key initiatives, including those related to customer centricity, elevating our brand, improving the quality of our product and developing one global product line. Today, we are updating our strategic plan and confirming our strong belief that our opportunities for market share gains, operating margin expansion and value creation remain intact,” Carlos Alberini, chief executive officer at Guess, said in a press release.

 

Guess, a US-based designer and marketer of lifestyle collection of contemporary apparel and denim, reported 29.9 per cent decrease in its revenue to $1.88 billion during fiscal 2021 that ended on January 30, 2021 compared to the revenue of $2.68 billion in the prior fiscal. The company incurred a net loss of $80.7 million (FY20: net earnings $101.2 million).#

Gross profit for FY21 was $697.1 million (FY20: $1.0 billion). Selling, general and administrative expenses were $679.9 million ($865.0 million). The company’s loss from operations for the year were $60.5 million (earnings: $140.0 million).

 

Guess, a US-based designer and marketer of lifestyle collection of contemporary apparel and denim, reported 29.9 per cent decrease in its revenue to $1.88 billion during fiscal 2021 that ended on January 30, 2021 compared to the revenue of $2.68 billion in the prior fiscal. The company incurred a net loss of $80.7 million (FY20: net earnings $101.2 million).#

Americas retail revenues decreased 37 per cent to $510.8 million ($811.5 million) while wholesale revenues fell 37 per cent to $117.6 million ($186.3 million) during FY21. Europe revenues dropped 25 per cent to $941.5 million ($1.2 billion) and Asia’s revenues plunged 33 per cent to $232.5 million ($346.2 million).

 

Guess, a US-based designer and marketer of lifestyle collection of contemporary apparel and denim, reported 29.9 per cent decrease in its revenue to $1.88 billion during fiscal 2021 that ended on January 30, 2021 compared to the revenue of $2.68 billion in the prior fiscal. The company incurred a net loss of $80.7 million (FY20: net earnings $101.2 million).#

“Our product line looks the best I have seen in all my years with Guess. The customer is responding very well to our assortments in our stores and in our digital business, which has accelerated quite nicely in the fourth quarter and further into this year. We have a great team, a strong business model and an amazing brand with remarkable momentum to gain share and grow profitably for many years to come,” Alberini said.