In the third quarter of fiscal year 2024, the revenues of US-based fashion brand Guess Inc saw a 3 per cent increase, reaching $651.2 million compared to $633.4 million in the same quarter of the previous year. Adjusted for constant currency, the revenue increase amounted to 1 per cent. Guess experienced a 6 per cent increase in revenues in the European market in US dollars, with a 5per cent rise in constant currency. The brand also reported an 8 per cent surge in US dollars and a 7 per cent increase in constant currency in retail comparable sales.
However, the retail segment in Americas reported a 7 per cent drop in revenue and an 8 per cent decrease in constant currency. Retail comparable sales, including e-commerce, declined by 5 per cent in both US dollars and constant currency in the region. Wholesale revenues in the Americas increased by 4per cent in US dollars but decreased by 1 per cent in constant currency.
In the Asian market, Guess saw a 2 per cent increase in revenues in US dollars, while remaining flat in constant currency. Retail comparable sales, including e-commerce, decreased by 8 per cent in US dollars and 9 per cent in constant currency. Licensing revenues rose by 19per cent in both US dollars and constant currency. Guess' GAAP and adjusted operating margins increased to 8.4 per cent and 8.9 per cent, respectively, during the quarter, as highlighted by Carlos Alberini, the CEO.