The company posted GAAP net earnings of $13 million, a significant change from a GAAP net loss of $11.8 million in the same quarter a year ago. GAAP diluted net earnings per share (EPS) were $0.23, compared to a GAAP diluted net loss per share of $0.22 for the same period last year.
Guess reported a 4 percent increase in first-quarter FY25 revenue to $591.9 million. GAAP net income was $13 million, a change from a loss of $11.8 million last year. The adjusted net loss was $13.8 million. Revenue in Europe increased 1 percent, retail revenue in the Americas was stable and revenue in Asia increased 3 percent. The company's licensing revenue grew 21 percent.
The adjusted net loss for the first quarter of fiscal 2025 was $13.8 million, compared to $3.5 million in the same quarter a year earlier. Adjusted diluted net loss per share was $0.27, compared to $0.07 in the year-ago quarter, the company said in a news release.
In terms of regional performance, revenue in Europe increased 1 percent in US dollars and 7 percent in constant currency, and comparable retail sales (including e-commerce) increased 4 percent in US dollars and 9 percent in constant currency. cent in constant currency. U.S. retail revenue was flat in both U.S. dollars and constant currency, while comparable retail sales (including e-commerce) declined 7 percent in U.S. dollars and 8 percent in constant currency. The inclusion of e-commerce sales positively impacted the percentage of comparable retail sales by 1 percent in US dollars and 2 percent in constant currency.
Wholesale revenues in the Americas saw a substantial increase of 21 percent in US dollars and 18 percent in constant currency. In Asia, revenue increased 3 percent in US dollars and 7 percent in constant currency, although comparable retail sales (including e-commerce) decreased 9 percent in US dollars and 5 percent in constant currency. The inclusion of e-commerce sales positively impacted the percentage of comparable retail sales by 1 percent in US dollars and 2 percent in constant currency. Licensing revenue increased 21 percent in both US dollars and constant currency.
Guess reported a GAAP operating loss of $19.9 million for the first quarter of fiscal 2025, compared to a GAAP loss of $0.9 million in the same quarter a year earlier. GAAP operating margin for the first quarter decreased to negative 3.4 percent, down from negative 0.2 percent in the same period last year. Adjusted operating loss was $7.7 million, compared to adjusted operating profits of $1.9 million in the same quarter a year ago. Adjusted operating margin decreased to negative 1.3 percent, down from 0.3 percent in the prior-year quarter.
“We are very pleased with our first quarter results, which exceeded our expectations for revenue and earnings per share. “I believe our strong results this quarter once again highlight the power of our diversified business model and the strength of our brand and global distribution,” he said. Carlos Alberini, general director.
Fiber2Fashion News Desk (DP)
