Europe and Asia give Guess strong quarter
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American fashion brand Guess’ third quarter turnover grew more than 3 %, mainly thanks to excellent sales in Asia and Europe. It did post a net profit loss however.
Drop in America
Guess’ total third quarter turnover reached 554.1 million dollars (470 million euro), which represents a 3.3 % turnover growth. European and Asian sales grew 19 and 17 % respectively, thanks to new stores and a good wholesale performance. North and South American sales did not fare as well: retail turnover dropped 13.4 % and wholesale turnover even dropped 16.8 %.
“Looking at our company’s future, I can see more opportunities in Europe and Asia and we should achieve strong growth there next year as well”, CEO Victor Herrero said
Despite that higher turnover, Guess did not manage a profit in the third quarter: it published a 2.9 million dollars (2.5 million euro) net loss, compared to a 9.1 million dollars (7.7 million euro) net profit the year before.
Questions & Answers
Q.What was the total turnover for Guess in the third quarter?
What was the total turnover for Guess in the third quarter?
Guess achieved a total third quarter turnover of 554.1 million dollars (470 million euro). This represents a 3.3% growth compared to the previous period.
Q.Which regions were responsible for the turnover growth?
Which regions were responsible for the turnover growth?
The turnover growth was primarily driven by strong performances in Europe and Asia. Sales in these regions increased by 19% and 17% respectively, due to new stores and good wholesale results.
Q.Did Guess make a profit despite the increased turnover?
Did Guess make a profit despite the increased turnover?
No, Guess reported a net loss of 2.9 million dollars (2.5 million euro) in the third quarter. This contrasts with a net profit of 9.1 million dollars (7.7 million euro) in the same period last year.
Q.How did the American market perform for Guess?
How did the American market perform for Guess?
North and South American sales saw a significant decline in the third quarter. Retail turnover dropped by 13.4%, and wholesale turnover experienced an even larger decrease of 16.8%.
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