Guess reports financial results – for the final time
Fashion brand Guess has said third-quarter revenues rose 7% to $791.4 million – but stated it will no longer publish financial reports, given its change of ownership.
In August, Authentic Brands Group bought a majority share (51%) of the intellectual property, leaving the ‘rolling stockholders’ – including founding brothers Maurice Marciano and Paul Marciano; Nicolai Marciano and CEO Carlos Alberini – with 49% of the IP and 100% of the assets.
The company has been taken off the stock market, and now has no obligation to report.
CEO Carlos Alberini said: “We are pleased with our third quarter performance, with revenue growth of 7%, driven by a strong performance of our Americas wholesale and Europe businesses.
“In our Americas retail business, despite continued softness, we were encouraged by the continued improvement in same store sales.”
Guess also owns US-based brand Rag &Bone.
Image credit: Guess on Instagram
