Guess predicts slower fourth quarter
Fashion brand Guess has reported a 13% increase in third quarter revenues to $739 million, mainly driven by the purchase of Rag & Bone in February.
The company said it had made significant investments in new products and increased marketing, and that customers had responded well.
It also added distribution capacity for Guess Jeans and Rag & Bone domestically and internationally.
Group CEO Carlos Alberini said: “All of our operating segments posted revenue growth, except for our Licensing segment, which was impacted by the internalisation of our outerwear business and delivered flat revenues.
“Our business in Europe was strong while North America and Asia experienced a more challenging environment impacted by slow customer traffic into our direct-to-consumer channels.”
However, the group has revised down its revenues and earnings prediction for the full year, believing consumer sentiment and slow customer traffic in North America and Asia will persist, compounded by currency fluctuations, freight costs and taxes.
