American brand Guess' revenue climbs 3% to $651.2 mn in Q3 FY24

In Europe, Guess's revenues increased by 6 per cent in US dollars and 5 per cent in constant currency. Retail comparable sales, including e-commerce, went up by 8 per cent in US dollars and 7 per cent in constant currency.

The Americas retail segment, however, experienced a decline, with revenues decreasing by 7 per cent in US dollars and 8 per cent in constant currency. Retail comparable sales, including e-commerce, also fell by 5 per cent in both US dollars and constant currency. E-commerce sales had a minimal impact on retail comparable sales in US dollars but positively impacted by 1 per cent in constant currency, the company said in a media release.

Americas wholesale revenues increased by 4 per cent in US dollars but decreased by 1 per cent in constant currency.

In Asia, revenues saw a 2 per cent increase in US dollars but remained flat in constant currency. Retail comparable sales, including e-commerce, decreased by 8 per cent in US dollars and 9 per cent in constant currency. E-commerce sales negatively impacted the retail comparable sales percentage by 1 per cent in both US dollars and constant currency.

Licensing revenues showed a significant increase, rising by 19 per cent in both US dollars and constant currency.

“We are pleased with our third quarter financial results, which were in line with our guidance for revenue growth and at the high end of our expectations for operating profit performance. During the period, we managed the business well and delivered strong gross margin and effective cost performance, which resulted in GAAP and adjusted operating margins of 8.4 per cent and 8.9 per cent, respectively, ahead of our expectations for the quarter,” said Carlos Alberini, chief executive officer.

Fibre2Fashion News Desk (DP)