Guess Inc returned to profit for fiscal 2022, riding on solid fourth quarter revenues. Fourth-quarter sales of the Los Angeles-based company increased 23.4 per cent to $799.9 million, from $648.5 million in the same prior-year quarter. Its net earnings fell to $68.4 million, a 2.8 per cent decrease from $70.4 million for the fourth quarter of fiscal 2021.

For the full year, Guess revenues increased 38.1 per cent to $2.59 billion, from $1.88 billion in fiscal 2021, while net earnings surged to $171.4 million, compared to a net loss of $81.2 million. Guess has also made certain structural changes within the organization. It appointed Dennis Secor interim chief financial officer, effective April 1. He will replace Katie Anderson, who is stepping down to pursue another opportunity at a privately-held company as CFO. Guess plans to initiate a search for a permanent chief financial officer, with the assistance of an executive search firm.

Katie has played an important role in Guess’s ongoing business transformation, including strengthening its balance sheet, implementing cost savings measures and delivering for its shareholders, says Carlos Alberini, CEO, Guess Inc.