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. news covers the apparel and accessories brand's operating updates, product and store activity, financial results, governance matters and completed take-private transaction. The company designs, markets, distributes and licenses contemporary apparel, denim, handbags, watches, eyewear, footwear and related consumer products under the Guess? brand, including GUESS JEANS initiatives and international retail expansion.
Coverage also includes the company's post-transaction brand and operating structure. Authentic owns 51% of substantially all Guess? intellectual property, rolling shareholders own the remaining 49%, and current Guess? management owns and continues to run the operating company, with Swiss operations serving as a hub for global design, creative and distribution direction.
Guess?, Inc. (NYSE: GES) will announce its second quarter fiscal 2023 financial results on August 24, 2022, following the close of trading. The conference call, scheduled for 4:45 p.m. ET, will be web streamed and accessible via the company's website. As of April 30, 2022, Guess? operated 1,073 retail stores across the Americas, Europe, and Asia, with an additional 565 stores run by partners and distributors, reaching approximately 100 countries worldwide.
GUESS has launched its Fall-Winter 2022 advertising campaign in Granada, Spain, showcasing a vibrant collection for both men and women. The campaign, captured by photographer Tatiana Gerusova and directed by Chief Creative Officer Paul Marciano, highlights modern styles, including eye-catching prints and a diverse color palette. The GUESS Women’s collection features stylish winter outfits, while the Men’s collection incorporates a mix of casual and smart styles. The campaign will be featured in international fashion magazines and stores.
GUESS has partnered with Homeboy Industries to launch the Upcycled Collection, transforming recycled clothing into unique fashion items. This initiative supports GUESS’s commitment to sustainability and community upliftment, allowing Homeboy Recycling to diversify its operations into textiles. The collection features various products, including tote bags and patchwork denim, promoting circular fashion. Homeboy Industries provides job training and support to marginalized individuals, further emphasizing the socially responsible aspect of this collaboration. For more details, visit guess.com/sustainability.
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.
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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 $14 to $148, featuring styles for men, women, and children. Balvin emphasizes peace and love, strengthening the connection between his personal journey and the GUESS brand heritage.
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.