Guess raises expectations
Los Angeles-headquartered Guess recently released its first half (H1) or second-quarter results for fiscal 2022.
The company reported that its total revenues hit $629 million - up 58% on the previous year, but down 8% compared to the same period of fiscal 2020. Chief executive, Carlos Alberini, commented that this “entire” decline was due to a timing shift, where European wholesale shipments were moved into the third quarter, plus the impact of permanent store closures on the business.
Mr Alberini added that the company expected to deliver its 10% operating margin goal within the year and so is raising its expectations to hit 12% by fiscal 2024, which he said would yield a 30% return on invested capital.
Co-founder and chief creative officer, Paul Marciano, also emphasised that the company had made “great progress” on its ambitious brand elevation strategy during the quarter.
Image: Guess via Instagram. Credit: Lucas Fermozelli
