Welcome to our dedicated page for Guess? news (Ticker: GES), a resource for investors and traders seeking the latest updates and insights on Guess? stock.
Guess?, Inc. (GES), a globally recognized brand, started its journey in 1981 by selling its first pair of jeans to Bloomingdale's. Over the decades, Guess has evolved into one of the most influential apparel brands, known for its stylish and contemporary clothing and accessories.
The company's core business revolves around designing, marketing, distributing, and licensing modern apparel and accessories that blend European fashion with American lifestyle. Guess? Inc. manages a diversified portfolio of brands including Guess, Marciano, Guess Factory, and G by Guess. This ensures that they cater to a wide array of customers with varying tastes and preferences.
Guess? Inc. operates across five key segments: Americas Retail, Americas Wholesale, Europe, Asia, and Licensing. Notably, the United States remains its largest revenue market. The company's global footprint allows it to leverage diverse market dynamics and consumer behaviors, strengthening its competitive edge.
The company's workforce is its backbone, driving innovation and success. From visionary designers to strategic marketers, each team member contributes to maintaining the brand’s esteemed market position. Guess? Inc. is always on the lookout for passionate individuals to join their team and uphold their brand ethos.
Guess continues to thrive through strategic partnerships, innovative projects, and continuous market expansion. The company’s recent achievements include expanding its e-commerce presence and improving its sustainability efforts, which resonate well with today’s conscientious consumers.
Financially, Guess? Inc. maintains a robust position, reflecting strong revenue growth and a commitment to shareholder value. The company's strategic initiatives and solid financial foundations make it a noteworthy player in the fashion industry.
For investors and enthusiasts, Guess? Inc. represents a blend of legacy, innovation, and market resilience. Stay updated with the latest news and developments as the company continues to shape the future of fashion.
Guess?, Inc. (NYSE: GES) has successfully completed a $175 million accelerated share repurchase program, receiving a total of 8.5 million shares at an average price of $20.68 per share. The company also repurchased an additional 0.5 million shares for $11.7 million, bringing the total repurchased shares to 9 million for $186.7 million this fiscal year at an average price of $20.78 per share, representing over 14% of outstanding shares. This share buyback reflects the company's commitment to enhancing shareholder value.
Guess?, Inc. (GES) reported a strong Q1 fiscal 2023, with revenues of $593 million, marking a 14% increase in U.S. dollars and 21% in constant currency compared to Q1 fiscal 2022. Operating margin improved to 6.1%, with adjusted operating margin at 7.0%. EPS was $0.12, down 33.3% year-over-year, while adjusted EPS rose 14.3% to $0.24. The company anticipates 4% revenue growth for fiscal 2023. A $175 million accelerated share repurchase program has been initiated, alongside a quarterly dividend of $0.225 per share payable on June 24, 2022.
Guess?, Inc. (NYSE: GES) will announce its first-quarter fiscal results for 2023, ending April 30, 2022, on May 25, 2022. A conference call will be held at 4:45 p.m. ET to discuss these results, which will be available via live webcast on the company's website. As of January 29, 2022, Guess? operated 1,068 retail stores in the Americas, Europe, and Asia, alongside 563 partner-operated stores, spanning approximately 100 countries. For more details, visit www.guess.com.
Legion Partners Asset Management has received a 'cease and desist' letter from Paul Marciano's law firm, which Legion claims aims to silence shareholder dissent. Legion emphasizes that 84% of unaffiliated shareholders voted to remove Marciano from the board at the recent annual meeting. They express concern over the use of corporate resources in this intimidation effort and maintain their commitment to advocate for shareholders' interests. Legion insists that both Marcianos’ presence on the board poses risks to Guess's reputation and valuation amidst ongoing sexual abuse allegations.
GUESS Originals has partnered again with global music superstar J Balvin for the GUESS Originals x J Balvin Amor Collection, inspired by his documentary “The Boy from Medellin.” Launching on May 12, 2022, the collection blends vibrant colors and expressive graphics while promoting mental health awareness. The 47-piece collection ranges in price from
Guess?, Inc. (NYSE: GES) announced that shareholders re-elected all four director nominees at the 2022 Annual Meeting. The Board expressed gratitude for shareholder engagement, emphasizing the ongoing transformation plan aimed at enhancing brand value, optimizing operations, and driving financial growth. Preliminary results show all proposals, including executive compensation and auditor ratification, were approved. The company highlighted its commitment to long-term growth while acknowledging potential risks from the global economic situation and ongoing geopolitical tensions.
GUESS has launched a new in-store customer recycling program in partnership with Homeboy Recycling to promote sustainability in the fashion industry. Customers can bring in 5 or more clothing items to any GUESS store across the US and receive a 15% discount on their next purchase. The items collected will be sorted for repair, resale, and recycling. This initiative aligns with GUESS' goals for circular business models and supports local job creation in Los Angeles.
Guess?, Inc. (NYSE: GES) urges shareholders to vote 'FOR ALL' its director nominees on the WHITE proxy card as the company responds to Institutional Shareholder Services (ISS). The company disputes ISS's recommendation to withhold votes for Paul and Maurice Marciano, emphasizing the importance of their leadership in the ongoing transformation strategy. An independent investigation regarding allegations against Paul Marciano is underway. Guess warns that proposed changes from Legion Partners could jeopardize long-term growth and value.
On April 14, 2022, Legion Partners Asset Management announced that Institutional Shareholder Services (ISS) recommends that shareholders of Guess, Inc. (NYSE: GES) withhold votes on the reelection of Paul and Maurice Marciano to the Board. ISS criticized the company’s past sexual harassment investigation as inadequate and highlighted credible risks to the Guess brand due to Paul Marciano's continued involvement. Legion calls for shareholders to support the removal of the Marciano brothers to mitigate risks and enhance company performance.
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