Guess?, Inc. reported its financial results for the third quarter ended November 2, 2024, on November 26, 2024. The company announced total net revenue increased 13% to $738.5 million, or 14% in constant currency, primarily driven by the rag & bone acquisition and modest growth in core Guess businesses.
Despite revenue growth, Guess? recorded a GAAP net loss of $23.4 million, resulting in a GAAP diluted net loss per share of $0.47. Adjusted net earnings were $17.7 million, with adjusted diluted EPS of $0.34. The GAAP operating margin decreased to 5.7%, and the adjusted operating margin decreased to 5.8%, primarily due to higher expenses and an unfavorable channel mix.
The company lowered its full fiscal year 2025 outlook, now expecting revenue to increase between 7.1% and 8.1% in U.S. dollars. GAAP EPS is projected between $0.70 and $0.82, and adjusted EPS between $1.85 and $2.00. Management cited persistent slow customer traffic in North America and Asia, along with external factors like currencies, freight costs, and taxes, for the revised outlook.
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