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American fashion brand Guess reports $633.4 mn in revenue for Q3 FY23



Total revenue of American fashion brand and retailer Guess for the third quarter (Q3) of fiscal 2023 (FY23) reached $633 million, in comparison with $643.1 million in the corresponding interval of the earlier fiscal. Despite the decline in the third quarter’s revenue, the corporate expects fiscal 2023 revenue development of about 2 per cent in US {dollars}.

For the third quarter of fiscal 2023, the corporate recorded GAAP web earnings of $21.8 million, a 26.9 per cent lower from $29.9 million for the identical prior-year quarter. GAAP diluted web earnings per share (EPS) decreased 24.4 per cent to $0.34 for the third quarter of fiscal 2023, in comparison with $0.45 for the identical prior-year quarter.

Total revenue of American fashion brand and retailer Guess for the third quarter (Q3) of fiscal 2023 (FY23) reached $633 million, in comparison with $643.1 million in the corresponding interval of the earlier fiscal. Despite the decline in the third quarter’s revenue, the corporate expects fiscal 2023 revenue development of about 2 per cent in US {dollars}.

For Q3 FY23, Guess’ adjusted web earnings have been $24.7 million, a 40.4 per cent lower from $41.6 million for the identical prior-year quarter. Adjusted diluted EPS decreased 29.0 per cent to $0.44, in comparison with $0.62 for the identical prior-year quarter, the corporate stated in a press launch.

Guess’ GAAP earnings from operations for the third quarter of fiscal 2023 decreased 17 per cent to $54.8 million, from $65.7 million in the identical prior-year quarter. GAAP working margin in Q3 FY23 decreased 1.6 per cent to eight.6 per cent, from 10.2 per cent for the identical prior-year quarter, pushed primarily by the unfavourable influence of foreign money, increased prices, and markdowns, partially offset by leveraging of bills. The destructive influence of foreign money on working margin for the quarter was roughly 190 foundation factors.

In Q3 FY23, from a regional perspective, Guess Americas retail revenues decreased 2 per cent in US {dollars} and 1 per cent in fixed foreign money. Retail comp gross sales, together with e-commerce, decreased 1 per cent in US {dollars} and remained comparatively flat in fixed foreign money. Americas wholesale revenues decreased 10 per cent in US {dollars} and 9 per cent in fixed foreign money.

Guess Europe revenues in Q3 FY23 decreased 2 per cent in US {dollars} and elevated 17 per cent in fixed foreign money. Retail comp gross sales, together with e-commerce, decreased 8 per cent in US {dollars} and elevated 9 per cent in fixed foreign money.

Asia revenues in Q3 FY23 elevated 10 per cent in US {dollars} and 28 per cent in fixed foreign money. Retail comp gross sales, together with e-commerce, decreased 2 per cent in US {dollars} and elevated 13 per cent in fixed foreign money.

For the 9 months ended October 29, 2022, Guess recorded GAAP web earnings of $53.8 million, a 47.8 per cent lower from $102.9 million for the identical prior-year interval. GAAP diluted EPS decreased 48.4 per cent to $0.80 for the 9 months ended October 29, 2022, in comparison with $1.55 throughout the identical prior-year interval.

For the 9 months ended October 29, 2022, Guess recorded adjusted web earnings of $62.9 million, a 47.4 per cent lower from $119.5 million for the identical prior-year interval. Adjusted diluted EPS decreased 40.8 per cent to $1.06, in comparison with $1.79 for the corresponding interval of the earlier fiscal.

The firm’s complete web revenue for the 9 months ended October 29, 2022, elevated 4 per cent to $1.87 billion, from $1.79 billion in the identical prior-year interval. In fixed foreign money, web revenue elevated by 14 per cent.

Guess’ GAAP earnings from operations for the 9 months ended October 29, 2022, decreased 19 per cent to $144.6 million, from $179.6 million in the corresponding interval of the earlier fiscal. GAAP working margin in the primary three quarters of FY22 decreased 2.3 per cent to 7.7 per cent, from 10.0 per cent in the identical prior-year interval.

For the 9 months ended October 29, 2022, Guess’ adjusted earnings from operations decreased 16 per cent to $155.4 million, from $184.9 million in the identical prior-year interval. Adjusted working margin decreased 2.0 per cent to eight.3 per cent, from 10.3 per cent for the corresponding interval of the earlier fiscal.

For the fourth quarter of fiscal 2023, Guess expects revenues to be down round 3.5 per cent in US {dollars} (up 3.5 per cent in fixed foreign money) versus the fourth quarter of fiscal 2022.

Fibre2Fashion News Desk (DP)



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