Guess?, Inc. Provides Financial Guidance for the Fourth Quarter and the Full Fiscal Year Ending January 29, 2022
November 23, 2021 at 04:05 pm EST
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Guess?, Inc. provided financial guidance for the fourth quarter and the full fiscal year ending January 29, 2022. The company expected revenues in the fourth quarter of fiscal 2022 to be down mid-single digits versus the fourth quarter of fiscal 2020 as the impact of permanent store closures and an unfavorable shift of European wholesale shipments from the fourth quarter into the first quarter of next year are partially offset by continued momentum in company's global e-commerce business.
For the full fiscal year 2022, assuming no increased COVID-related shutdowns from current levels (approximately 1% of company's directly operated stores), The company expected revenues to be down low-single digits versus fiscal 2020 and operating margin to reach approximately 11.0%. These comparisons are versus the pre-pandemic periods from two fiscal years prior in order to provide a more normalized comparison.
Guess?, Inc. designs, markets, distributes and licenses lifestyle collections of apparel and accessories for men, women and children. The Companyâs segments include Europe, Americas Retail, Americas Wholesale, Asia, and Licensing. The Europe segment sells its products through direct-to-consumer and wholesale channels throughout Europe and the Middle East. Its European direct-to-consumer network is comprised of brick-and-mortar retail stores and concessions and e-commerce sites. The Americas Retail segment sells its products direct-to-consumer through a network of directly operated retail and factory outlet stores and e-commerce sites in the Americas. The Wholesale segment sells its products through wholesale channels throughout the Americas and to third-party distributors based in Central and South America as well as licensed retail locations operated by its wholesale partners. The Licensing segment includes its worldwide licensing operations.