The first-half revenues of American fashion brand Guess Inc gained 8 per cent for the six-month period ending July 30, on the back of solid sales momentum in the second quarter.

The Los Angeles-based company’s total net revenue for the six months increased to $1.24 billion from$1.15 billion in the same prior-year period. Americas retail revenues increased 2 per cent, while retail comp sales, including e-commerce, decreased 2 per cent. Americas wholesale revenues increased 24 per cent.

Elsewhere, Europe revenues increased 9 per cent in US dollars and 23% in constant currency. Retail comp sales, including e-commerce, decreased 5 per cent in US dollars and increased 8 per cent in constant currency. Asia revenues increased 2 per cent in U.S. dollars and 11 per cent in constant currency.

Likewise, total sales for the second quarter increased 2 per cent to $642.7 million from $628.6 million in the same prior-year quarter. In constant currency, net revenue increased by 12 per cen.

Net income for the quarter fell by 60.8 per cent to $24 million from $61.1 million for the same prior-year quarter, with the earnings dive narrowing overall during the first half, down 21 per cent to $89.8 million.

Looking ahead, Guess said it expects revenues to decline by 4.5 per cent in US dollars tor the third quarter of fiscal 2023. For the full fiscal, it expects revenues to increase by around 1.5 per cent in US dollars versus fiscal 2022.