X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LOS ANGELES-Guess? Inc. is shifting its expansion outside the US, executives said at the company’s fourth quarter conference call. The company will open 15 stores here and 126 in Europe and Asia, said Paul Marciano, chief executive officer. Last year, Guess opened 57 stores and closed five units in the U.S.

“We are currently funding only committed retail deals in North America and Europe,” Marciano said. The focus will be on markets such as the United Kingdom, Spain and Russia and other “underpenetrated markets.”

China also provides significant opportunity.

“We have barely started in China,” Marciano said. “The biggest challenge we encounter there is the size of the country.”

Management will be visiting the country twice in the next three months to explore secondary cities, beyond Beijing, Shanghai and Hong Kong. A strong possibility is a joint venture to assist with expanding in the country.

For the quarter, the company reported total net revenue $561.1 million, up 9% from the prior fourth-quarter period. North American comparable-store sales decreased 6.5%. Net earnings were $47.9 million, down 13.2% compared with $55.2 million for the year-ago quarter.

Total net revenue for fiscal year 2009 was $2.09 billion, up 19.6% from $1.75 billion in the prior year. North American comparable store sales increased 1%. Net earnings were $213.6 million, up 14.5% from the previous year.

As of January 31, Guess?, Inc. operated 425 retail stores in the United States and Canada and 690 retail stores outside of North America, of which 96 were directly owned.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.