US based fashion retail brand Guess Inc. reported has announced its fourth quarter results. The company recorded surge in business growth during the period.
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During the fourth quarter, net earnings of the fashion brand increased to US $23.2 millioncompared to net earnings of US $1 million for the year-ago period.
For the quarter, net revenue increased 5.7 percent to US $837.1 million as against US $792.2 million in the prior-year quarter.
Americas retail revenues were down 0.7 percent, while comps were up 6 percent. Americas wholesale revenues jumped 19.2 percent during the quarter.
Europe revenues increased 4.1 percent, while retail comps were flat.
Asia was the strongest market, with revenues increasing 21.7 percent and retail comps up 13 percent during the quarter.
For the fiscal year ending February 2, 2019, Guess saw net revenue increase 10.4 percent to US $2.61 billion versus US $2.36 billion in the prior year.
Net income for the stood at US $14.1 million as against net loss of US $7.9 million.
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For the fiscal year 2020, the fashion company is expecting consolidated net revenue to increase between 4 and 5 percent.
