US: Guess to change fiscal calendar
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.
This puts Los Angeles, California-based Guess? In the same league as the overwhelming majority of publicly held US retailers and allows it to conform to the National Retail Federation fiscal calendar.
In fiscal 2005, US$612.9m of the company's $936.1m in revenues, or 65.5%, were derived from its retail operations.
Guess will treat the current month, ending on 3 February, as a transitional period and begin its 2008 fiscal year on 4 February. Results for January will be included in those for the first quarter beginning on 4 February and ending 5 May.
Fiscal 2008 will end 2 February 2008 and subsequent fiscal years will end on the Saturday nearest 31 January each year, Guess said.
By Arnold J Karr.
Wal-Mart Stores Inc is to reduce the number of shops that sell its fashion line by designer Mark Eisen in a bid to clear out stocks of unsold clothing....
Central America's struggling textiles and apparel industry could lure $600m-$1bn by 2010 if it works harder to attract foreign investment and undertakes a series of actions to bolster its internationa...
Nanotechnology may help textile manufacturers dramatically reduce their costs and overheads, according to a design expert speaking at a conference at the Royal Society in London. It could also enable ...
S Schwab Company Inc has sold its Little Me newborn and toddler clothing business to manufacturer Mamiye Brothers Inc for an undisclosed sum....
Bombay Rayon Apparels, a unit of fabric and shirt maker Bombay Rayon Fashions Ltd, is to buy the garment business of Leela Scottish Lace for INR1.55bn (US$38m)....
G-III Apparel Group trimmed its first quarter loss, the company said late Wednesday (6 June), as it continued to evolve into a company less dependent on outerwear for sales and profits....
Guess Inc late Tuesday (5 June) raced past first quarter estimates and lifted its second quarter and full year guidance above current analysts' views....
US shoppers are for the first time spending more money on clothing than computers when they shop online, and year-on-year growth is expected to exceed 20% in 2007 according to new research published t...
- Trump blows the case for Brexit out of the water
- How to ensure sustainability is more than a slogan
- Steps to piloting living wage in garment factories
- Duty-free trade key to build Africa supply chains
- Bangladesh slips as US imports decline in October
- Taiwan textile maker investing in first US plant
- Outdoor apparel sector set for double-digit growth
- US Q3 in brief – Destination Maternity, Cherokee
- World cotton price prospects lifted again
- Adidas NYC flagship raises the bar on sport stores