Guess?, Inc. - GES STOCK NEWS

GUESS has launched GUESS Again, a new customer recycling program in partnership with SuperCircle, expanding its existing in-store recycling initiative. Starting October 10th, US customers can request a shipping label through the GUESS website to send in worn clothing items from any brand. SuperCircle manages the tech interface, collection, sortation, processing, and disassembly of items, working with Homeboy Threads and other recycling partners.

Customers receive GUESS credit for future purchases in exchange for recycling. This initiative complements GUESS's in-store program where customers can bring five or more clothing items to any GUESS store in the US & Canada for a discount on their next purchase. The partnership aims to reduce GUESS's carbon footprint and address textile waste, aligning with the company's ACTION GUESS commitment to develop more circular business models.

Guess?, Inc. (NYSE: GES) has announced its participation in the Goldman Sachs 31st Annual Global Retailing Conference on September 4, 2024. The company will be represented by Dennis Secor, Interim CFO, and Fabrice Benarouche, SVP Finance, IR, and Chief Accounting Officer in a fireside chat at 10:20 a.m. ET. The event will be available via live webcast on the company's investor relations website.

Guess? designs and distributes contemporary apparel and accessories globally. As of August 3, 2024, the company directly operated 1,054 retail stores in Europe, the Americas, and Asia, with partners operating an additional 537 stores worldwide. On April 2, 2024, Guess? acquired the operating assets and a 50% interest in the IP of rag & bone, expanding its presence in the American fashion scene.

Guess?, Inc. (NYSE: GES) reported Q2 fiscal 2025 results with revenues increasing 10% to $733 million. The company delivered an operating margin of 6.5% and adjusted operating margin of 5.2%. GAAP loss per share was $0.28, while adjusted EPS was $0.42. Guess lowered its full fiscal year 2025 outlook, now expecting revenue growth between 9.5% and 11.0% in U.S. dollars. The company anticipates GAAP and adjusted operating margins between 7.2% and 7.7% and 7.3% and 7.8%, respectively. GAAP EPS is projected between $1.92 and $2.14, with adjusted EPS between $2.42 and $2.70. The results reflect increased marketing investments to support international expansion and the integration of the recently acquired rag & bone brand.

Guess?, Inc. (NYSE: GES) has announced it will release its financial results for the second quarter of fiscal year 2025, ended August 3, 2024, on Wednesday, August 28, 2024. The company will host a webcast conference call at 4:45 p.m. (ET) to discuss the results. A live webcast will be available on the company's website, with a 30-day replay archive.

Guess? is a global lifestyle brand that designs, markets, and distributes contemporary apparel and accessories. The company recently acquired rag & bone, a New York-based fashion brand, on April 2, 2024. As of May 4, 2024, Guess? directly operated 1,048 retail stores worldwide, with partners and distributors operating an additional 533 stores across approximately 100 countries.

Guess?, Inc. (NYSE: GES) has announced a CFO transition, with Dennis Secor appointed as Interim Chief Financial Officer effective August 26, 2024. Secor, who previously served as Guess? CFO from 2006 to 2012, replaces Markus Neubrand, who is stepping down to pursue an opportunity closer to his family. Neubrand will remain with the company until September 30, 2024, to ensure a smooth transition.

Guess? has initiated a search for a permanent CFO, expected to be based at the company's headquarters in Lugano, Switzerland. CEO Carlos Alberini expressed confidence in Secor's leadership and the existing finance team during this transition period. Secor stated his readiness to contribute to Guess?'s ongoing transformation and value creation for shareholders.

Guess? (NYSE: GES) has announced an expansion of its European revolving credit facility by €100 million, increasing its total borrowing capacity from €250 million to €350 million. This facility, managed by its Swiss subsidiary Guess Europe Sagl, has nearly three years remaining on its term. The interest rate on the facility is tied to Guess?'s sustainability goals, including reducing greenhouse gas emissions, using sustainably sourced materials, and increasing its Guess ECO products. CEO Carlos Alberini highlighted that this expansion demonstrates lender confidence in Guess?'s strategy and the significance of the European market.

Guess? reported its fiscal 2025 first-quarter results, highlighting a 4% revenue increase to $592 million in USD and 7% in constant currency. GAAP EPS was $0.23, while adjusted EPS showed a loss of $0.27. The adjusted operating margin stood at -1.3%. The company completed the acquisition of rag & bone and integrated it into existing segments. For fiscal 2025, Guess? expects a revenue increase of 10.7% to 12.7% and adjusted EPS between $2.62 and $3.00. The company also announced a $200 million share repurchase program and a $0.30 per share dividend.

Guess? (NYSE: GES) has announced the appointment of Andrew Rosen as Executive Chair of the rag & bone brand. This follows the acquisition of rag & bone by Guess? and WHP Global. Rosen, with over 40 years in the fashion industry, will provide strategic direction and oversight. He will work alongside Guess? executives Paul Marciano and Carlos Alberini, and WHP Global CEO Yehuda Shmidman. Rosen's extensive experience includes co-founding Theory and investing in brands like Alice + Olivia. This move aims to expand rag & bone's global reach and enhance its product offerings.

Guess? (NYSE: GES) will release its first quarter fiscal 2025 financial results on May 30, 2024. The company will host a webcast conference call at 4:45 p.m. (ET) on the same day. The live webcast will be available on the Guess? investor relations site, with a replay accessible for 30 days.

Guess? designs, markets, distributes, and licenses a variety of contemporary apparel and accessories. As of February 3, 2024, Guess? directly operated 1,002 retail stores in Europe, the Americas, and Asia, with partners and distributors operating an additional 551 stores globally. On April 2, 2024, Guess? acquired the operating assets and a 50% interest in the intellectual property assets of the New York-based fashion brand rag & bone.