Guess revenue increased by 2.6 per cent in 2019. Profit surged by 8.1 per cent. In Europe Guess grew by 13.2 per cent. But Guess saw revenue declines in Asia and the US.

The American fashion retailer closed 2019 with strong liquidity and a solid balance sheet, which positions it well to navigate through the current COVID-19 crisis. Guess has continued to manage inventories effectively. The brand has effected a five per cent reduction in global inventory versus last year and is on track to end the year with a decrease of inventory in the double-digit range. This is expected to have a significant long-term impact in its infrastructure and in its product capabilities regarding quality, speed and cost optimization. On product side, Guess made good progress with denim development and expanded product presentation in stores and online. The company has identified an opportunity to develop and leverage a single factory outlet line to serve North America and Europe instead of the two separate lines that operate today. Guess has adjusted its investment plans for the Asian region based on current trends and medium-term expectations. Plans are to partner with local celebrities and influencers, while leveraging social media platforms and livestreaming capabilities to market to consumers more effectively.