The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
LOS ANGELES, United States — Guess Inc. on Tuesday reported fiscal first-quarter profit of $3.3 million.
On a per-share basis, the Los Angeles-based company said it had net income of 4 cents.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 5 cents per share.
The clothing company posted revenue of $478.8 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $489 million.
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Guess expects full-year earnings to be 86 cents to $1.02 per share.
Guess shares have dropped 12 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $18.62, a decline of 27 percent in the last 12 months.
In 2020, like many companies, the $50 billion yoga apparel brand created a new department to improve internal diversity and inclusion, and to create a more equitable playing field for minorities. In interviews with BoF, 14 current and former employees said things only got worse.
For fashion’s private market investors, deal-making may provide less-than-ideal returns and raise questions about the long-term value creation opportunities across parts of the fashion industry, reports The State of Fashion 2024.
A blockbuster public listing should clear the way for other brands to try their luck. That, plus LVMH results and what else to watch for in the coming week.
L Catterton, the private-equity firm with close ties to LVMH and Bernard Arnault that’s preparing to take Birkenstock public, has become an investment giant in the consumer-goods space, with stakes in companies selling everything from fashion to pet food to tacos.