American fashion brand Guess’ third quarter turnover grew more than 3 %, mainly thanks to excellent sales in Asia and Europe. It did post a net profit loss however.
Drop in America
Guess’ total third quarter turnover reached 554.1 million dollars (470 million euro), which represents a 3.3 % turnover growth. European and Asian sales grew 19 and 17 % respectively, thanks to new stores and a good wholesale performance. North and South American sales did not fare as well: retail turnover dropped 13.4 % and wholesale turnover even dropped 16.8 %.
“Looking at our company’s future, I can see more opportunities in Europe and Asia and we should achieve strong growth there next year as well”, CEO Victor Herrero said
Despite that higher turnover, Guess did not manage a profit in the third quarter: it published a 2.9 million dollars (2.5 million euro) net loss, compared to a 9.1 million dollars (7.7 million euro) net profit the year before.
