Guess Inc. continues to see success in its international business, including strong performances in Europe, Asia and the Middle East.
The company’s international sales increased by 12.3% to $724 million in the fiscal year ended February 3, 2023, compared to the previous year. This international growth was fueled by continued strength in the European market, strong growth in Asia, and a recovery in the Middle East.
Here’s a closer look at the performance of Guess’s international business in key regions:
**Europe:**
– Sales in Europe increased by 9.5% to $306 million in the fiscal year ended February 3, 2023, compared to the previous year.
– This growth was driven by strong performances in key markets such as France, Germany, the United Kingdom and Italy.
– Guess continues to expand its retail presence in Europe, with plans to open new stores in key cities across the region.
**Asia:**
– Sales in Asia increased by 16.7% to $265 million in the fiscal year ended February 3, 2023, compared to the previous year.
– This growth was driven by strong performances in China, Japan and South Korea.
– Guess continues to invest in its e-commerce business in Asia, as well as its brick-and-mortar retail presence.
**Middle East:**
– Sales in the Middle East increased by 10.3% to $109 million in the fiscal year ended February 3, 2023, compared to the previous year.
– This growth was driven by a recovery in the region, particularly in Saudi Arabia and the United Arab Emirates.
– Guess continues to expand its distribution network in the Middle East, with plans to open new stores in key cities across the region.
Overall, Guess’s continued growth in its international business is a testament to the strength of the brand and the company’s execution of its global expansion strategy.
In addition to its strong performance in international markets, Guess also reported solid results in its North American business. The company’s total sales increased by 6.1% to $906 million in the fiscal year ended February 3, 2023, compared to the previous year. This growth was driven by strength in both the women’s and men’s categories, as well as continued growth in the company’s online business.
Guess is a global lifestyle brand that designs, markets, distributes and licenses a range of contemporary apparel, denim, handbags, watches, eyewear, footwear and other related products. The company’s products are distributed through branded Guess stores, as well as through department and specialty stores, online and through franchise partners worldwide.
Guess was founded in 1981 by the Marciano brothers and is headquartered in Los Angeles, California. The company has a global presence with over 1,100 retail stores in more than 100 countries.
Source: FashionNetwork.com.
