American fashion retail brand Guess Inc. has announced its third-quarter results. During the period under review, the brand witnessed a total net revenue increase of 10.3 percent to US $ 605.4 million as against US $ 549.0 million in the corresponding quarter last year.
The GAAP net loss of the brand remained US $ 13.4 million compared to US $ 2.9 million.
Revenues from the Americas region increased by 1.1 percent while the wholesale revenues zoomed 18.2 per cent in constant currency terms. Europe revenues too surged by 19.8 percent in constant currency whereas Asia revenues increased by 21.8 percent.
“For this fiscal year, we are planning for positive comps in all regions and expecting every business segment to be profitable. Beyond the current year, we still have a lot of growth opportunities in Europe and Asia; the results in the Americas retail business have continued to show improvement; and we see more opportunities to reduce costs, particularly in logistics,” said Victor Herrero, CEO, Guess.
In the fourth quarter, the brand expects a consolidated net revenue increase between 4 and 6 percent.