For the 2017-18 financial year, Guess revenues increased eight per cent.

In the fourth quarter revenue leapt 18 per cent.

Fourth quarter growth was driven by an 18 per cent increase in comparable sales in Europe. The size of its European e-business is expanding fast and it is now close to that of the American region.

In the last quarter, Guess opened 15 directly operated stores in Italy, France, Spain, Portugal, Switzerland, Belgium, the Netherlands, Russia and Poland. Another 60 openings are planned this year.

The new logistics hub, which will be fully operational by the end of the summer, is expected to improve the group's margins.

Guess is on a steady growth track in Asia, too, notably in China, where it opened 25 new stores in the last quarter. China will in fact be a strong focus for the current financial year, during which the plan is to open 60 stores in Asia. Guess has also opened its first subsidiary in Singapore. In the last financial year, the group improved its gross margin in Asia by 470 base points.

In the 2017-18 financial year, Guess’ total operating income improved by 37 per cent. In the same period of time, its operating margin grew from 2.9 per cent to 3.6 per cent.