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May 02, 2020
Guess? Q1 2021 Earnings Report
Financial performance was materially impacted by the COVID-19 crisis, with revenue declining and a significant GAAP loss per share reported.
Key Takeaways
Guess?, Inc. reported a significant decrease in revenue and a GAAP loss per share due to the COVID-19 crisis. Total net revenue decreased by 51.5% to $260.3 million, and the company recorded a GAAP net loss of $157.7 million, or $2.40 per share.
Q1 Fiscal 2021 revenues decreased 52% to $260 million, or 50% in constant currency, driven by COVID-19 related store closures.
GAAP loss per share was $2.40, compared to $0.27 in Q1 Fiscal 2020.
Adjusted loss per share was $1.81, compared to $0.25 in Q1 Fiscal 2020.
The company focused on preserving liquidity and reducing the cost structure to mitigate the impact of the crisis.
Guess?
Guess?
Guess? Revenue by Segment
Guess? Revenue by Geographic Location
Revenue by Segment
Europe Revenue
CapyFin.comAmericas Retail Revenue
CapyFin.comAmericas Wholesale Revenue
CapyFin.comAsia Revenue
CapyFin.comLicensing Revenue
CapyFin.comRevenue by Geographic Location
Europe Revenue
CapyFin.comAsia Revenue
CapyFin.com Forward Guidance
The company expects the global crisis to continue to have a material impact on its financial position, results of operations, and cash flows in fiscal 2021 and expects revenues for the second quarter of fiscal 2021 to have a decrease similar to that of the first quarter.
Positive Outlook
- Sales productivity for reopened stores has reached roughly 75% in the U.S. and Canada.
- Sales productivity for reopened stores has reached roughly 70% in Europe.
- All stores are open in Asia.
- Over 400 stores are open in Europe.
- Over 180 stores are open in the U.S. and Canada.
Challenges Ahead
- The extent and duration of the global pandemic remains uncertain.
- Consumer purchasing activity may continue to be impacted throughout the year.
- Revenues for the second quarter of fiscal 2021 are expected to have a decrease similar to that of the first quarter.
- Data on sales productivity may not be indicative of future trends as it is only representative of a portion of stores for a relatively short period.
- The global crisis will continue to have a material impact on the company's consolidated financial position.
Revenue & Expenses
Visualization of income flow from segment revenue to net income