Guess news and archive

Guess believed to have reacquired share of Russian business

In what has been deemed as an unusual move, American fashion label Guess has reportedly reacquired its stake from its Russian partner. The retailer is believed to have bought back its 30 percent share from local partner Vyacheslav Skikulov for eight million euros, according to Russian news outlet Kommersant. The publication also said Guess had...

Report

Guess? appoints Thomas Barrack to board

American fashion retailer Guess? has announced the appointment of Thomas Barrack to its board as an independent director. Barrack, who is the founder and former executive chairman and CEO of Colony Capital, now known as DigitalBridge Group, already took on the position from May 24, and will also serve on the compensation committee of the board....

ManagementFeatured

Guess? Q1 revenues down, but Asia rebounds

American retailer Guess? has reported its financial results for Q1 ended April 29, 2023, which it said had “exceeded” expectations despite a fall in net revenue. The company saw a 4 percent decrease in its total net revenue for FY24, dropping from 593.5 million dollars to 569.8 million dollars, with its Americas wholesale declining 25 percent...

People

Guess? names Markus Neubrand as chief financial officer

Fashion brand Guess? has appointed Markus Neubrand as its new chief financial officer after a “rigorous search”. Neubrand, who is currently group chief financial officer of MCM Worldwide (MCM Global AG), will join Guess? on August 1. Prior to MCM he spent 17 years at Hugo Boss in various roles, including managing director of Scandinavia and...

ManagementFeatured

Guess Q4 profits widen as Europe shines, but stock falls on earnings outlook

Guess has reported an increase in earnings and revenue in the fourth quarter as its Europe market performed strongly, but its shares fell due to a lower-than-expected profit outlook. The US fashion retailer made GAAP net earnings of 95.8 million dollars in the quarter ended January 28, up from 68.4 million dollars a year earlier. That came as...

Business

Guess expands North America capital access

Premium brand Guess has announced that it has expanded its access to capital in North America. In a press release, the fashion retailer said it has entered into a 150 million dollar senior secured asset-based revolving credit facility with a term of five years. The facility both amends and extends its existing 120 million dollar amount by up to...

Business

Brands attempt to cover tracks following PETA investigation into down suppliers

Following an investigation into Vietnam-based down suppliers, a number of retailers have reportedly attempted to cover their tracks and remove any links to producers of the material. The People for the Ethical Treatment of Animals (PETA) unveiled its findings from its investigation into Vietnamese farms and slaughterhouses last month, revealing...

ManagementFeatured

Guess reports steep drop in Q3 earnings

Guess, Inc. third quarter net earnings of 21.8 million dollars, declined 26.9 percent and GAAP diluted net earnings per share decreased 24.4 percent to 34 cents. The company’s adjusted net earnings were 24.7 million dollars, a 40.4 percent decrease and adjusted diluted EPS decreased 29 percent to 44 cents, compared to the same prior-year...

Fashion Featured

Banksy accuses clothing brand Guess of illegally using his artworks

American brand Guess recently launched a collection featuring graphic designs by artist Banksy. To much fanfare, the collection was marketed as a collaboration, but according to the British artist, his designs were not authorised. At the launch of the range last month, Guess chief creative officer Paul Marciano said: "The graffiti of Banksy has...

Fashion |In Pictures

Guess unveils collection with graffiti by Banksy

Guess has unveiled a capsule collection for autumn/winter 2022 using iconic motifs from Banksy’s graffiti. The collection was created in partnership with Brandalised, which has the urban graffiti license to offer Banksy fans affordable graffiti collectables. The capsule features contemporary garments along with unique accessories, including...

Management

Guess revenues increase but earnings decline

For the second quarter, Guess?, Inc. reported total net revenue increased 2 percent to 642.7 million dollars, while in constant currency, net revenue increased by 12 percent. Total net revenue for the six months ended July 30, 2022 increased 8 percent to 1.24 billion dollars and in constant currency, net revenue increased by 16 percent compared...

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Inter Parfums posts strong sales and earnings growth

For the second quarter, Inter Parfums, Inc. reported net sales of 244.7 million dollars, up 18 percent compared to the same period last year. Net income for the quarter reached 27.6 million dollars, up 22 percent and diluted earnings per share were 86 cents, an increase of 21 percent against the same quarter last year. Commenting on the second...