For the third quarter Guess net profit declined by 26 percent. Revenues were down two percent in dollars but up ten percent in constant currency mostly due to a strong business in Europe. During the third quarter Guess delivered an eight percent operating margin.
Revenue generated from retail in the Americas fell two percent in dollars and one percent in constant currency. Wholesale revenues fell ten percent in dollars and nine percent in constant currency.Europe revenues decreased two percent in dollars and increased 17 percent in constant currency.European retail comp sales, including e-commerce, decreased eight percent in dollars and increased nine percent in constant currency. In Asia third quarter revenues increased ten percent in dollars and 28 percent in constant currency. Retail comp sales, including e-commerce, decreased two percent in dollars and increased 13 percent in constant currency.Overall licensing revenues also grew by four percent in dollars, driven primarily by the sale of handbags.Sweaters and other warmer weather items did not perform well probably due to the temperatures being hotter than usual in the period.
The company has also witnessed a consumer shift from casual to dressier items as the pandemic wanes and people return to the office and normalcy.