California Apparel News

Guess? Inc. reported Aug. 28 that its total net revenue for its second quarter of fiscal 2020 increased 5.8 percent to $683.2 million compared to $645.9 million during the same quarter the previous year, said Carlos Alberini, the Los Angeles–headquartered jeans makers’ chief executive officer.

“This performance exceeded our expectations and was driven by a solid topline increase, strong margin performance and effective expense management,” Alberini said in a statement. “Overall, our direct-to-consumer businesses, which include stores and e-commerce, performed in line with our expectations in all regions, and our wholesale businesses in the Americas and Europe delivered a very strong performance compared to our expectations.”

Wall Street forecasts compiled by Seeking Alpha predicted that the jeans makers’ revenue would be $673.78 million during its second quarter. For its first quarter of the 2020 fiscal year, total net revenue increased 3 percent over the same quarter the previous year, to $536.7 million.

Because of these good results, Guess updated its outlook for its third-quarter fiscal results. Consolidated net revenue in U.S. dollars is currently forecast to increase between 2 percent and 3 percent for the third quarter, with an increase of between 3 percent and 3.5 percent for the 2020 fiscal year.

Guess has been running a fashion empire for more than 30 years. Its marketing campaigns, which have featured stars such as Jennifer Lopez and J Balvin, have made headlines. According to a company statement, Guess directly runs 1,174 retail stores in North and South America, Europe and Asia. The company and its licensees and distributors operate in 100 countries across the globe.