Guess? Q1 2023 Earnings Report
Key Takeaways
Guess?, Inc. reported strong first quarter results, exceeding expectations for revenue and operating performance. Revenues increased by 14% in U.S. dollars and 21% in constant currency. The company delivered strong gross margin performance and leveraged expenses effectively, contributing to an expansion in operating margin and a significant increase in earnings from operations compared to the prior year.
Revenues reached $593 million, up 14% in U.S. Dollars and 21% in Constant Currency compared to Q1 Fiscal 2022.
Operating Margin was 6.1%; Adjusted Operating Margin was 7.0%.
EPS was $0.12 and Adjusted EPS was $0.24.
The company entered into a $175 million accelerated share repurchase arrangement.
Guess?
Guess?
Guess? Revenue by Segment
Guess? Revenue by Geographic Location
Forward Guidance
For the second quarter of fiscal 2023, the company expects revenues to be up around 1% in U.S. dollars (8% in constant currency) versus the second quarter of fiscal 2022 and operating margin to reach approximately 7.5%. For the full fiscal year 2023, the company expects revenues to be up around 4% in U.S. dollars (10% in constant currency) versus fiscal 2022 and GAAP and adjusted operating margins to reach approximately 10.1% and 10.3%, respectively.
Revenue & Expenses
Visualization of income flow from segment revenue to net income