Guess news and archive

Guess sales and earnings rise in the third quarter

For the third quarter, Guess recorded GAAP net earnings of 55.7 million, a 155 percent increase from the same prior-year quarter. GAAP diluted net earnings per share increased 141 percent to 82 cents. For the quarter under review, the company’s adjusted net earnings were 27 million dollars, a 9 percent versus the same prior-year quarter, while...

Culture

Guess marks four decades of fashion and imagery with new book

Premium lifestyle retailer Guess has launched “A Fourth Decade of Guess Images” today, a 252-paged coffee table book that chronicles the brand's rise to international fame. The fourth edition of a series of collectible books by Guess, it traces the history of the four brothers who founded the now global brand with the launch of the 3-Zip Marilyn...

Business

Guess settles 30 million dollar sexual harassment lawsuit

Premium lifestyle retailer Guess has agreed to pay a 30 million dollar settlement over claims of sexual harassment against the brand’s co-founder Paul Marciano. A payment of 22 million dollars is understood to have been paid out to settle a pension fund’s lawsuit, according to Fortune, which came in regards to allegations that board members for...

Business

Guess co-founder Maurice Marciano to retire from board

The co-founder of premium brand Guess, Maurice Marciano, has announced his retirement from the company’s board of directors, effective immediately. Marciano established Guess in 1981 alongside his brothers, Paul, Georges and Armand, and had previously served as chairman and chief executive officer of the company over the duration of his career....

Report

Guess co-founder Maurice Marciano to retire from board

Fashion

Item of the week: the windbreaker

What it is: With a history that dates back over 500 years, the windbreaker is by no means a ‘new’ wardrobe staple. However, it wasn’t until the 1970s that the garment was granted the status of an informal fashion attire and took on a more modernised flair. A descendant of the ‘parka’, the windbreaker typically refers to an insulating outwear...

ManagementFeatured

Guess increases quarterly profit by 63 percent and raises guidance

Despite the continuing weakness in demand in America, the US fashion group Guess Inc. surprisingly achieved significant growth in sales and earnings in the second quarter of the 2023/24 financial year. As a result, the company raised its full-year earnings forecast on Wednesday evening. In the three months before 29 July, turnover reached 664.5...

BusinessFeatured

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...