For the three month period Guess’ net revenues were up 1.7 per cent. By region, America’s retail revenue decreased 4.9 per cent in dollars and 4.5 per cent in constant currency, while retail comp sales including e-commerce decreased three per cent in dollars. Domestic wholesale revenues increased seven per cent in dollars and 8.1 per cent in constant currency. Europe revenues increased 9.1 per cent in dollars (13.2 per cent in constant currency) while Asia revenues decreased eight per cent in dollars (4.6 per cent in constant currency). Licensing revenues decreased 0.3 per cent in dollars.
Overall, the strength of the company’s businesses in Europe, Americas wholesale and licensing, combined with a disciplined and effective approach to manage costs, has enabled it to more than offset softness in its Americas retail and Asia businesses in the quarter.
For the full year, Guess is maintaining the high-end of its guidance and raising low-end. This speaks to the strength of its global brand and the power of its diversified business model which provides it with multiple levers to continue to increase revenues and improve profitability. Guess expects net revenues to increase between 2.7 per cent and three per cent for the full-year.