US' Guess net revenue up 23% in Q4 FY22

The company’s operating margin for fiscal 2022 increased by 6.5 per cent to 11.8 per cent, from 5.3 per cent for fiscal 2020, and its adjusted operating margin improved by 6.4 per cent to 12 per cent for fiscal 2022, from 5.6 per cent for fiscal 2020, Guess said in a press release.

Guess also recorded net earnings of $171.4 million, compared to a net loss of $81.2 million for the fiscal year ended January 30, 2021. Its diluted EPS was $2.57 for fiscal 2022, compared to diluted loss per share of $1.27 for fiscal 2021.

Moreover, the American lifestyle clothing company reported its adjusted net earnings of $194.7 million, compared to an adjusted net loss of $4.5 million for fiscal 2021. Its adjusted diluted EPS was $2.92, compared to an adjusted loss per share of $0.07 for fiscal 2021.

For fiscal 2022, adjusted earnings from operations were $310.6 million, compared to $20.0 million for fiscal 2021. Its adjusted operating margin improved 10.9 per cent to 12.0 per cent for fiscal 2022, from 1.1 per cent in fiscal 2021, driven primarily by overall leveraging of expenses and lower markdowns.

In addition, the company’s EPS was $2.57 for fiscal 2022, compared to diluted loss per share of $1.27 for fiscal 2021, and its adjusted diluted EPS was $2.92, compared to an adjusted loss per share of $0.07 for fiscal 2021.

Guess earnings per share (EPS) decreased 11.9 per cent to $1.04 for Q4 of fiscal 2022, compared to $1.18 for the Q4 of fiscal 2020, and its adjusted diluted EPS decreased 6.6 per cent to $1.14, compared to $1.22 for the Q4 of fiscal 2020.

“This has been an incredible year for our company where we completely transformed our business. Our brand elevation strategy is at the centre of that transformation. Today, the Guess brand enjoys strong momentum all over the world, and the consistency of our assortments and brand images globally, the quality of our products and the perceived value of our offerings are among the best they have been in the history of Guess. Carlos Alberini, the chief executive officer at Guess and I want to thank and congratulate our entire team of Guess associates around the world who work together, relentlessly and fiercely, to make our company better every single day,” Paul Marciano, co-founder and chief creative officer, said.

For the full fiscal year 2023, assuming no meaningful COVID-related shutdowns, Guess expects revenues to be up in the low-single digits versus fiscal 2022 and the operating margin to reach approximately 10.5 per cent, the press release added.

Fibre2Fashion News Desk (SF)