Guess Inc. Third-Quarter Profits Show Slight Increase From Last Year

Guess Inc. watch modest improvement In sales And earnings In It is third quarter financial results reported on Tuesday. But THE The bone Based in Angeles way of life clothes business And retailer escalation back on It is tax 2024 perspectives.

Net income For THE period END October. 28 were $651.2 million, up 1 percent In constant currency Since THE one year ago period When they came In has $633.4 million. THE the company net earnings were $55.7 million, up 155 percent Since last years third quarter. This was help by A $31.2 million discreet tax adjustment related mostly has THE consolidation of certain business functions In Switzerland.

"Generally, A strong Licence business combined with A discipline approach has cost management compensate for candy In a few of OUR direct to consumer companies And drove earnings Since operations For THE business that were flat has last years performance," said Carlos Alberini, Guess' chief executive officer Since 2019.

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European income continued has be strong. Income increase 5 percent In constant currency, And same store sales, including e-commerce, were up A in good health 7 percent on THE even period last year. European wholesale income were solid but compensate for by A decline In consumer traffic.

As had has been TRUE In THE pass, sales In THE Americas continued has be weak, due has slow customer traffic, showing A 8 percent income decline In THE third quarter on last year. Same store sales, including e-commerce, were disabled by 5 percent. "We observed contractions on Men's And Women's clothes And accessories," THE CEO said.

A bright place In generally income This quarter was Licence revenues, which climb 19 percent on last years third quarter. The most efficient Licence categories, Alberini said, were perfumes, hand bags, the watches, glasses And shoes.

THE the company income In Asia stayed flat In constant currency although strong performers were Men's And Women's sweaters, skirts And shorts, help by A hotter quarter In Asia.

Alberini said income benefited Since THE the company announcement campaign employing Georgina Rodriguez, And Guess was Already filming following years advertisement And marketing campaign with her as THE main model. For THE vacation, Guess sign up Mateo Bocelli, son of Italian singer Andrea Bocelli, as THE lead model For It is campaign. "For THE vacation, We feel THE customer will be look For value And will be sensitive has This," Alberini said.

For THE First of all nine month of tax 2024, net income came In has $1.89 billion, up 1 percent Since $1.87 billion seen THE previous year. Net earnings were up 54 percent has $82.9 millions.

However, Guess' full year advice For tax 2024 was reduced. Instead of A 2.5 has 4 percent growth In net revenues, THE business NOW waits has see A 1.8 has 2.4 percent.

Guess was based In nineteen eighty one by four Marciano brothers. THE brand spear In Bloomingdale's with THE 3 zippers Marilyne jeans, A fitted cut silhouette inspired by Marilyne Monroe.

Guess has turned himself In A global business, which last year had total income of $2.7 billion.