USA: Guess? Q3 Profit Soars By 76%
Apparel maker and retailer Guess? Inc has posted a 76 per cent increase in third quarter profit driven by improved results across its retail, wholesale and licensing divisions.
For the three months ended 25 September net earnings were $11.8 million, or diluted earnings of $0.27 per share, from net earnings of $6.7 million, or diluted earnings of $0.15 per share, for the same period last year.
Paul Marciano, co-chairman and co-CEO, said the company benefited from "strong same store sales growth in our retail stores, better performance in wholesale due to increased international sales and higher income from our licensing business."
Revenue for the period increased 18.7 per cent to $197.8 million from $166.7 million in the third quarter of 2003.
The company's retail stores, including those in Canada, generated revenues of $132.1 million in the 2004 third quarter, 15.7 per cent ahead of last year's $114.2 million. Same-store sales increased 10.9 per cent.
Wholesale revenues increased 21.4 per cent to $51.4 million in the third quarter, from $42.4 million in the same year-ago period.
Licensing revenues were up 41.1 per cent to $14.3 million from $10.1 million last time.
Help test our new apparel sourcing tool.
- Digitalisation and data to disrupt supply chains
- 3D CAD comes of age
- EU eyes mandatory due diligence for apparel supply
- Unlocks for the future fashion sourcing landscape
- What TTIP might mean for US, EU textiles & apparel
- Li & Fung forms supply chain partnership with PVH
- Big data to help US firms improve clothing fit
- Levi Strauss and ILO probe Cambodia factory death
- US Q4 in brief – G-III Apparel, Finish Line
- Labour rights risk Bangladesh EU trade benefits?
- 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
- Outdoor performance apparel 2016: A broader perspective
- REPORT BUNDLE: Africa-Med, Southeast Asia and Central America strategic sourcing pack