Guess stories Q3 FY21 income of $569 mn


Guess, a US-based designer and marketer of life-style assortment of up to date attire and denim, has reported its monetary outcomes for third quarter (Q3) FY21, that ended on October 31, 2020. Whole web income for the quarter declined 7.6 per cent to $569.three million, in comparison with the income of $615.9 million in identical interval prior fiscal.

 

“We’re effectively positioned for the vacation interval. Whereas Covid-related restrictions are meaningfully impacting a number of markets, particularly in Europe, we’re assured in our model, our product and our workforce’s skill to navigate the corporate by these challenges,” Carlos Alberini, chief government officer at Guess, stated in a press launch.

 

Gross revenue for Q3 FY21 was $239.5 million (Q3 FY20: $229.four million). Promoting, basic and administrative bills have been all the way down to $184.7 million ($205.zero million). Firm’s web earnings for the quarter rose to $27.5 million ($13.5 million).

 

Americas retail revenues decreased 26.7 per cent whereas wholesale revenues fell 36.2 per cent throughout Q3 FY21. Nonetheless, Europe revenues have been up 16.zero per cent. Asia revenues plunged 24.7 per cent.

 

“In the course of the interval, we launched our first-ever world product line for all classes. This may allow us to characterize the model extra persistently throughout the globe and profit from vital efficiencies in growing our merchandise,” Alberini stated.

Fibre2Fashion Information Desk (JL)

Guess, a US-based designer and marketer of life-style assortment of up to date attire and denim, has reported its monetary outcomes for third quarter (Q3) FY21, that ended on October 31, 2020. Whole web income for the quarter declined 7.6 per cent to $569.three million, in comparison with the income of $615.9 million in identical interval prior fiscal.





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