Categories AlphaGraphs, Earnings, Retail

Infographic: Key highlights of Guess? (GES) Q1 2021 earnings

Guess? Inc. (NYSE: GES) reported a wider loss in the first quarter of 2021 due to lower revenue, asset impairment charges as well as additional inventory valuation reserves and higher allowances for markdowns and doubtful accounts. The COVID-19 crisis has had a material impact on the company’s operations and financial results.

Guess (GES) Q1 2021 earnings

To minimize loss and protect liquidity, the company challenged every aspect of its business which was being significantly impacted by extensive store closures and lower customer demand. In addition to postponing decisions related to the payment of the quarterly dividend, the company was able to lower expenses, adjust inventory levels and purchases, lower capital expenditures, and extend vendor payment terms to react to the crisis.

The company has all its stores open in Asia, over 400 stores in Europe, and over 180 stores in the US and Canada. The company’s sales productivity for re-opened stores for the second quarter-to-date has reached roughly 75% in the US and Canada and 70% in Europe as compared to last year’s level.

The company expects that the global crisis will continue to have a material impact on its financial position, operations results, and consolidated cash flows in fiscal 2021. Given the dynamic situation, the company has not provided detailed guidance for Q2 of 2021 or the full-year 2021. However, the company now expects Q2 revenue to have a decrease similar to that of Q1.

Take a look at our Retail articles here

Most Popular

Key highlights from Autodesk (ADSK) Q4 2021 earnings results

Autodesk, Inc. (NASDAQ: ADSK) today reported its fourth quarter financial results for the period ended January 31, 2021. Net income for the fourth quarter was $911.3 million, or $4.10 per

Infographic: Beyond Meat (BYND) reports wider Q4 loss; Revenue up 4%

Beyond Meat (NASDAQ: BYND), a specialist in plant-based meat substitutes, Thursday reported a wider loss for the fourth quarter, despite an increase in revenues. The numbers also missed the consensus

Virgin Galactic stock tanks on delayed test flight

Virgin Galactic (NYSE: SPCE) reported fourth-quarter 2020 financial results after the regular market hours on Thursday. The space tourism company reported zero revenue in the fourth quarter, compared to $529,000

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top