The company is counting on its Rag & Bone acquisition to push annual revenues to an all-time high of $3 billion.
The first-quarter revenue rise for fiscal 2025 was also aided by strong results in the label’s European and Asian stores while retail revenues in the Americas were flat.
Revenues in the first quarter ending May 4 totaled $592 million compared with last year’s $570 million. First-quarter net earnings were strong at $13 million compared with an $11.08 million net loss during last year’s first quarter.EXCLUSIVE: Kathy Hilton Unveils Salvaged Lab-grown Diamond Jewelry Collection With Anna Zuckerman
As of Feb. 3, Guess directly operated 1,002 stores in Europe, the Americas and Asia while partners and distributors had 551 additional stores. In a conference call on Thursday announcing the financial results, the company said it expected annual revenues for fiscal 2025 to exceed $3 billion, which would be a first for the company. That historic figure will be aided by Guess’ recent acquisition ofteam and the launch of Guess Jeans. We are excited about our momentum,” noted Carlos Alberini, Guess’ chief executive officer since 2019.
Rag & Bone was acquired last February by Guess and brand management firm WHP Global and is operating as an independent entity within the portfolio. Guess owns all of the Rag & Bone operating assets, and the intellectual property is owned jointly by Guess and WHP. The purchase price was not disclosed, but Guess’ portion was worth $56.5 million with an earn-out that could add $12.8 million to the price.would become the executive chair of the New York-based Rag & Bone.
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