Guess, a US-based lifestyle clothing brand, reported 57.7 per cent jump in the revenue to $628.6 million during second quarter (Q2) of FY22, against the revenue of $398.5 million in the corresponding period of previous fiscal. However, the company has failed to surpass the pre-COVID sales figures with revenue down 8.0 per cent from $683.2 million in Q2 FY20.

 

Guess, a US-based lifestyle clothing brand, reported 57.7 per cent jump in the revenue to $628.6 million during second quarter (Q2) of FY22, against the revenue of $398.5 million in the corresponding period of previous fiscal. However, the company has failed to surpass the pre-COVID sales figures with revenue down 8.0 per cent from $683.2 million in Q2 FY20.#

“We are very pleased with our performance this quarter, which significantly exceeded our earnings expectations. Compared to the second quarter of fiscal 2020, the LLY period, we expanded operating margin by over 700 basis points to 13.9 per cent,” Carlos Alberini, chief executive officer at Guess, said in a press release. “Our revenues for the quarter finished down 8 per cent versus LLY. The entire decline was due to a timing shift of European wholesale shipments into the third quarter and the impact of permanent store closures.”

 

Guess, a US-based lifestyle clothing brand, reported 57.7 per cent jump in the revenue to $628.6 million during second quarter (Q2) of FY22, against the revenue of $398.5 million in the corresponding period of previous fiscal. However, the company has failed to surpass the pre-COVID sales figures with revenue down 8.0 per cent from $683.2 million in Q2 FY20.#

“During the quarter we made great progress on our brand elevation strategy. This is a very ambitious project that touches almost every aspect of our business. The work that our teams have put into this has been extraordinary, and I want to thank them for their great contributions to this key initiative for our Company and our future,” Paul Marciano, co-founder and chief creative officer at Guess said.

 

Guess, a US-based lifestyle clothing brand, reported 57.7 per cent jump in the revenue to $628.6 million during second quarter (Q2) of FY22, against the revenue of $398.5 million in the corresponding period of previous fiscal. However, the company has failed to surpass the pre-COVID sales figures with revenue down 8.0 per cent from $683.2 million in Q2 FY20.#

The company's net earnings for the period ended on July 31, 2021, rose to $63.1 million (Q2 FY21: loss $20.7 million). Gross profit for Q2 FY22 rose to $294.0 million ($147.0 million), while earnings from operations for the quarter expanded to $87.4 million against loss of $14.3 million in the same period of 2020.

 

Guess, a US-based lifestyle clothing brand, reported 57.7 per cent jump in the revenue to $628.6 million during second quarter (Q2) of FY22, against the revenue of $398.5 million in the corresponding period of previous fiscal. However, the company has failed to surpass the pre-COVID sales figures with revenue down 8.0 per cent from $683.2 million in Q2 FY20.#

By segment, Americas retail revenue escalated to $341.8 million ($184.6 million) and Americas wholesale revenue improved to $95.3 million ($46.1 million). Europe sales during the three-month quarter shot up to $564.6 million, while sales from Asia totalled to $43.4 million.

 

Guess, a US-based lifestyle clothing brand, reported 57.7 per cent jump in the revenue to $628.6 million during second quarter (Q2) of FY22, against the revenue of $398.5 million in the corresponding period of previous fiscal. However, the company has failed to surpass the pre-COVID sales figures with revenue down 8.0 per cent from $683.2 million in Q2 FY20.#

In its outlook for the full fiscal 2022, the American retailer said it expect revenues to be down mid-single digits versus fiscal 2020 and operating margin to reach approximately 10.0 per cent. The company also assumes to return to a normal cadence of product development for its European wholesale business.