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Guess Q2 revenues increase 13.7 percent

By FashionUnited


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American designer and distributor of apparel, denim, handbags, watches, footwear Guess said on Wednesday its Q2 revenue for 2018 rose 13.7 percent, while GAAP net net earnings rose by 67.8 percent from the same period last year. On an adjusted basis, the company's net earnings increased 83.5 percent to 29.5 million dollars.

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The company’s sales in Q2 2018 were 645.9 million US dollars, up from 568.3 million US dollars a year earlier. Net earnings increased to 25.5 million US dollars. The profit margin of the company increased to 3.9 percent compared to 2.7 percent a year ago.

For the six month period, Guess reported GAAP earnings of 4.3 million dollars compared to GAAP net loss of 6.1 million dollars for the same period last year. Adjusted net earnings were 11.6 million dollars compared to adjusted net loss of 3.3 million dollars. Net revenues in the first half rose 14.1 percent to 1.17 billion dollars.

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Guess Inc based in Los Angeles, was founded in 1981 by Paul Marciano, Georges Marciano, Armand Marciano and Maurice Marciano. In 1981, Guess sold its first pair of jeans to Bloomingdale's department store and since then, it has not looked back but has only grown to become one of the most recognized and influential apparel brands in the world. At the time when indigo blue or bleached denims were in trend, Guess made strong headways with its stonewashed denim and signature zipper sliding up each ankle.

Offering apparel, denim, handbags, watches, footwear, the New York-listed company has about 14,000 employees worldwide and operates more than 1,000 stores.

For more recent news on the business, collections and executive changes of Guess Inc, click here.

Picture:Guess website

Financial Update
Guess Inc