Guess? Inc., ticker symbol GES, released its first-quarter fiscal 2024 results, surpassing market estimates for both revenue and earnings. However, compared to the previous year, both metrics experienced a decline.
The company's international business exhibited strength during the quarter. This, coupled with solid product margins and effective cost-control measures, helped mitigate the challenges faced by the Americas Retail business due to reduced customer footfall in stores. Guess? has been successful in enhancing its brand image and maintaining a strong global distribution network, benefiting from its diversified business model.
Looking ahead, management remains positive about fiscal 2024, anticipating low single-digit growth in revenue. Additionally, they expect strong profitability and robust cash flow generation. Following the earnings announcement, Guess? shares saw a 1.3% increase during the after-market trading session on May 24.
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The company's international business exhibited strength during the quarter. This, coupled with solid product margins and effective cost-control measures, helped mitigate the challenges faced by the Americas Retail business due to reduced customer footfall in stores. Guess? has been successful in enhancing its brand image and maintaining a strong global distribution network, benefiting from its diversified business model.
Looking ahead, management remains positive about fiscal 2024, anticipating low single-digit growth in revenue. Additionally, they expect strong profitability and robust cash flow generation. Following the earnings announcement, Guess? shares saw a 1.3% increase during the after-market trading session on May 24.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.