US: Europe, North America propel Guess? to record Q2 sales
Second-quarter profit at youth apparel maker Guess?? Inc has soared by 230%, boosted by strong demand for its fashions in the North American and European markets.
For the second quarter ended 1 July 2006, net earnings rose to $13.7m from $4.2m in the same period last year.
Diluted earnings per share increased 233.3% to $0.30 per share in the current quarter versus $0.09 per share in the second quarter last year.
Paul Marciano, co-chairman and Co-CEO, said: "Our revenue growth was driven by a very positive customer response to our product assortment and mix, improved execution within our North American retail and wholesale divisions, and the continued success of our European and licensing businesses."
He added: "While we remain cautious regarding consumer spending and customer traffic, we are confident about our business growth in Europe and licensing expansion in all categories."
Total net revenue for the second quarter increased 29.6% to $231.0m from $178.2m in the second quarter of 2005.
Retail revenues in the US and Canada climbed 23.4% to $163.9m in the second quarter, and same store sales were up by 17.4%. Wholesale revenues increased 18.2% to $30.8m.
Net sales at the company's European operations climbed 130.1% to $22.8m in the second quarter.
For the six month period, net earnings increased 136.3% to $29.1m from $12.3m in the same period of 2005. Net revenue rose 24.4% to $490.0m.
Help test our new apparel sourcing tool.
Kellwood Co has reached an agreement with Global Brand Holdings LLC to extend Kellwood's license for XOXO sportswear and dresses through 2011 and appointed Tom Pastorello director of e-commerce....
Continuing to adapt its business to its strengths as a retailer, Guess? Inc said Tuesday that it will move the end of its fiscal year to the end of January from the end of December....
Guess? Inc substantially lifted its fourth-quarter guidance on Thursday (18 January) based on across-the-board sales and margin strength....
The latest ERP business solution from UK-based Datel is to be available to the apparel industry in Hong Kong and China after the company signed a distribution deal with Hong Kong-based Armitage Techno...
US Lifestyle firm Guess? Inc has bought 75% of the equity interest of Italy-based Focus Europe Srl, including the leases and assets of four Guess by Marciano retail stores in Italy....
The following is a general roundup of apparel and shoe chains' December 2006 sales results. The list will be updated as new results become available....
The following is a general roundup of apparel and shoe chains' November 2006 sales results. The list will be updated as new results become available....
Apparel and accessories retailer Guess said it has doubled its third-quarter profit from last year on a strong revenue increase....
- Digitalisation and data to disrupt supply chains
- EU eyes mandatory due diligence for apparel supply
- Unlocks for the future fashion sourcing landscape
- What TTIP might mean for US, EU textiles & apparel
- Geo-political uncertainty and how to survive it
- Li & Fung forms supply chain partnership with PVH
- US Q4 in brief – Finish Line, Oxford Industries
- Levi Strauss and ILO probe Cambodia factory death
- Big data to help US firms improve clothing fit
- Next books first FY profit fall in eight years
- Central and East Europe Report Package
- Central America strategic sourcing review - a focus on Guatemala, El Salvador and Honduras
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- REPORT BUNDLE: Africa-Med, Southeast Asia and Central America strategic sourcing pack
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing