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Guess news and archive

Guess Q1 earnings drop, revenues increase by 14 percent

Guess?, Inc., for its first quarter ended April 30, 2022 reported GAAP net earnings of 8 million dollars, a 33.6 percent decrease from 12 million dollars for the first quarter of fiscal 2022. GAAP diluted EPS decreased 33.3 percent to 12 cents compared to 18 cents for the same prior-year quarter. The company’s adjusted net earnings for the...

May 26, 2022

Report

Guess announces 250 million euro sustainability-linked credit facility

US retailer Guess is the latest fashion company to announce a credit facility directly linked to its success in hitting agreed sustainability targets. The 250 million euro European credit facility will focus on three key pillars: Operating with Integrity, Empowering our People, and Protecting the Environment. The interest rate of the facility...

May 10, 2022

Report

Maurice and Paul Marciano re-elected to Guess board

Guess has announced the preliminary results of its annual meeting of shareholders for the company’s board of directors, with shareholders voting to re-elect all four of its director nominees: Anthony Chidoni, Cynthia Livingston and Maurica and Paul Marciano. In a release, Guess said it greatly appreciated the engagement of its shareholders. It...

Apr 25, 2022

Business

ISS calls for Guess shareholders to withhold votes on Paul and Maurice Marciano

Proxy advisory firm Institutional Shareholder Services (ISS) has recommended that shareholders of Guess should withhold their votes that could see Paul and Maurice Marciano reelected to the company’s board of directors. The announcement was made alongside Guess’ activist shareholder Legion Partners Asset. The investment firm has held firm with...

Apr 15, 2022

Business

Guess to repurchase 175 million dollars of shares

Clothing brand Guess? Inc. (GES) said Monday that it has moved ahead with its accelerated share repurchase or ASR to buy back 175 million dollars of its shares. Carlos Alberini, CEO of Guess said: "As a result of this execution, we are pleased to be able to return significant value to our shareholders, which remains a key priority for our Board....

Mar 21, 2022

People

Four more women come forward with misconduct allegations against Guess’ Paul Marciano

A handful of new sexual assault allegations against Guess’ co-founder Paul Marciano have come to light after a dramatic press conference that saw some of the accusers speak on the case. Represented by attorney Lisa Bloom, the four models, one revealed to be Amanda Rodriguez, each spoke at the conference about their personal experiences with...

Mar 18, 2022

Business

Guess says shareholder’s withhold campaign is ‘irresponsible’

In a continuation of its dialogue with one of its main shareholders, premium fashion brand Guess, Inc. has once again responded to Legion Partners’ activist campaign that is calling on its board of directors to reconsider Paul Marciano’s role in the company. In a public letter to Legion, a significant shareholder of the fashion brand, Guess...

Mar 18, 2022

ManagementFeatured

Guess Q4 profit down, appoints Dennis Secor as interim CFO

For the fourth quarter of fiscal 2022, Guess recorded GAAP net earnings of 68.4 million dollars, a 14.1 percent decrease from the fourth quarter of fiscal 2020. GAAP diluted EPS decreased 11.9 percent to 1.04 dollars for the quarter. The company’s adjusted net earnings were 75.2 million dollars, an 8.7 percent decrease compared to the fourth...

Mar 17, 2022

Business

Guess addresses stakeholder letter regarding Marciano brothers

Guess highlighted its “continued successful execution of business transformation” in a response to one of its stakeholders that expressed concerns regarding sexual assault allegations against one of the company’s co-founders and executives. A public letter published by Legion Partners, a significant stakeholder of the fashion firm, called on the...

Feb 10, 2022

Business

Guess stakeholder calls for removal of co-founders following sexual assault allegations

Legion Partners Asset Management, a shareholder of fashion retailer Guess, has issued a public letter to the company’s board of directors calling for the removal of the brand’s co-founders and directors Maurice and Paul Marciano, following a string of sexual assault allegations against the latter. Note: This article contains brief descriptions...

Feb 8, 2022

Report

Inter Parfums posts strong sales growth, raises outlook

Inter Parfums, Inc. net sales rose to 210.8 million dollars for the three months ended December 31, 2021, a 15 percent increase from the fourth quarter of 2020 and 19 percent ahead of the fourth quarter of 2019. At comparable foreign currency exchange rates, the company said in a release, net sales increased 15 percent from the fourth quarter of...

Feb 1, 2022

Business

Crocs and Guess among participants to present at ICR 2022 conference

Footwear brand Crocs and premium label Guess have both been added to the jam-packed schedule of the upcoming ICR conference, set to take place virtually from January 10 to 12. The event brings together public and private company management teams, institutional investors, research analysts, investment bankers and select media, with the ultimate...

Jan 6, 2022