During its fourth quarter, Guess Inc registered a 9 per cent increase in revenues to reach $891.1 million. The US fashion giant also reported a single-digit rise in sales for the full year. The company’s revenues grew by 9 per cent in US dollars in Europe while its revenues in Asia surged by 18 per cent surge during the quarter ending February 3, 2024. 

However, Guess retail revenues in the US grew by only 1 per cent, as the company recorded 1 per cent decrease in retail comparable sales, including e-commerce. On the other hand, its wholesale revenues in the US skyrocketed by 44 per cent, and licensing revenues climbed by 15 per cent.

For the fiscal year, Guess Inc’s total revenues rose by 3 per cent to $2.78 billion, fueled by growth across Europe and Asia. However, this was somewhat offset by declines in US retail and wholesale revenues.

Elaborating on the company’s financial health, Carlos Alberini, CEO, Guess Inc, said, disciplined management enabled the company to deliver $330 million in operating cash flow and $248 million in free cash flow. Guess Inc. ended the year with a cash position of $360 million, exceeding expectations. As a result, the board declared a special dividend of $2.25 per share to be paid in May, aligning with the commitment to return capital directly to shareholders.

In the upcoming fiscal year, Alberini, anticipates revenues will surpass $3 billion for the first time in the company's history.