Guess CEO: We will come back stronger
The company saved money as retail slowed during the pandemic with initiatives including furloughs, temporary salary reductions some job losses.
Carlos Alberini said: “The COVID-19 crisis continued to impact our business in the second quarter. We increased product margins, ended the period with inventories down 13% compared to last year and finished the quarter with a strong balance sheet and ample liquidity.
“I am proud to say that our teams around the world rose to the challenges imposed by the crisis in an extraordinary way and the results we achieved demonstrate their strong leadership, relentless hard work and amazing dedication to our customers and our company.”
He said the group is well positioned for the second half of the year.
He added: “I believe that companies that adapt their business models to actively embrace new consumer preferences placing the customer at the centre of everything they do will gain share and overcome the crisis faster. We fully expect to be one of those companies.”
Image: Jennifer Lopez for Guess? Credit: Guess?
