GUESS Reports First Quarter FY2024 Earnings Results for the Period Ending May 24 2023

🌥️Earnings Overview

On April 30, 2023, GUESS ($NYSE:GES) released their financial statement for the first quarter of fiscal year 2024, ending on May 24, 2023. The total revenue for this period was USD 569.8 million, a 4.0% decrease compared to the same period of last year. The net income for the quarter was USD -11.8 million, a drop from the 8.0 million figure of the previous year.

Stock Price

On Wednesday, GUESS reported its FY2024 first quarter earnings results for the period ending May 24 2023. The stock opened at $18.2 and closed at $17.4, a decrease of 0.8% from the prior closing price of 17.5. The company is continuing to focus on its digital transformation initiatives and is confident in its ability to capitalize on long-term growth opportunities in the apparel market. GUESS continues to invest in technology and infrastructure to drive improved customer experiences and enhanced operational efficiencies.

Overall, the company’s first quarter performance was driven by strong international growth and a focus on operational efficiencies, which resulted in a net income for the quarter. With its digital transformation initiatives in place, GUESS is well-positioned to capitalize on long-term growth opportunities in the apparel market and create further value for shareholders. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Guess. GUESS_Reports_First_Quarter_FY2024_Earnings_Results_for_the_Period_Ending_May_24_2023″>More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Guess. GUESS_Reports_First_Quarter_FY2024_Earnings_Results_for_the_Period_Ending_May_24_2023″>More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Guess. GUESS_Reports_First_Quarter_FY2024_Earnings_Results_for_the_Period_Ending_May_24_2023″>More…

Key Ratios Snapshot

Some of the financial key ratios for Guess are shown below. GUESS_Reports_First_Quarter_FY2024_Earnings_Results_for_the_Period_Ending_May_24_2023″>More…

Analysis

At GoodWhale, we recently conducted an analysis of GUESS‘s financials. Our Risk Rating for the company indicates that it is a medium risk investment in terms of its financial and business aspects. Our analysis has detected two risk warnings in GUESS’s income statement and balance sheet. We invite you to register with GoodWhale and take a closer look at our findings. With our comprehensive financial analysis, you can make an informed decision about whether or not investing in GUESS is the right move for you. More…

Peers

Guess? Inc is a leading international lifestyle brand known for its iconic denim and fashion apparel. Along with Guess?, other popular lifestyle brands such as Esprit Holdings Ltd, TOM TAILOR Holding SE, and Brunello Cucinelli SpA have made a mark in the fashion industry, offering a wide range of high-quality products to customers around the world.

– Esprit Holdings Ltd ($SEHK:00330)

Esprit Holdings Ltd is a global fashion lifestyle company that designs, develops, and sells clothing, accessories, and home furnishings. The company has a market cap of 2.38 billion as of 2022, indicating its size and market presence. Additionally, Esprit Holdings Ltd has a Return on Equity (ROE) of 3.21%, which is a measure of the company’s profitability and efficiency in using equity to generate profits. This shows that the company is capable of generating returns on its equity holdings, indicating that it is well-managed and financially sound.

– TOM TAILOR Holding SE ($LTS:0MMJ)

TOM TAILOR Holding SE is a German-based fashion company that designs and sells apparel, footwear, and accessories for men, women, and children. The company has a market cap of 5M as of 2022 and a negative return on equity of -507.22%, indicating that the company has not been very successful in generating profits from investments. This can be attributed to the company’s inability to keep up with current fashion trends, as well as its lack of focus on marketing and promotion. Despite this, the company has still managed to remain successful in the industry, as it has managed to steadily increase its sales over the past few years.

– Brunello Cucinelli SpA ($LTS:0Q7S)

Brunello Cucinelli SpA is an Italian luxury fashion house based in Solomeo, Italy. Founded in 1978, the company specializes in producing and selling garments, cashmere knitwear, leather goods, and accessories. As of 2022, the company has a market cap of 4.74 billion and a Return on Equity of 23.98%. The company has grown significantly since its founding and has seen a steady increase in its market cap over the years. Its Return on Equity indicates that it is performing well relative to its peers in the industry.

Summary

Investors may be disappointed with GUESS‘s first quarter earnings results for FY2024, as total revenue decreased by 4.0% compared to the same period last year, while net income experienced a decrease from 8.0 million to -11.8 million. Going forward, investors should carefully monitor GUESS’s financial performance as the company navigates and recovers from the pandemic.