Guess?, Inc. saw its international business continue to perform strongly in the third quarter of fiscal 2023, with net sales rising 18.5% to $293.2 million..
The company’s total net sales increased 3% to $872.2 million, driven by international growth and the strength of its wholesale channel. However, net income declined 54.9% to $29.3 million, as the company faced higher costs and expenses..
In the Americas, net sales grew 4.2% to $405.1 million, with strength in the wholesale and retail channels. The company’s retail comparable sales increased 3.9% in the region..
Europe saw a 22.7% surge in net sales to $234.3 million, with growth across all channels. The company’s retail comparable sales jumped 20.2% in the region..
Greater China posted a 15.3% increase in net sales to $108.1 million, driven by strength in the wholesale channel. The company’s retail comparable sales increased 8.1% in the region..
Southeast Asia and Japan saw a 9.9% increase in net sales to $24.7 million, with growth in both the wholesale and retail channels. The company’s retail comparable sales increased 12.1% in the region..
Guess also noted that its e-commerce business continued to grow, with net sales increasing 6.9% to $119.9 million. The company’s e-commerce penetration rate reached 13.7% of total net sales..
Looking ahead, Guess remains optimistic about its international growth prospects. The company plans to continue expanding its global footprint and investing in its e-commerce business..
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