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Guess CEO Says Americas Retail Comps Rose in Q1

Guess Inc. slightly narrowed its first-quarter loss from a year ago. For the quarter ended May 5, the company said the net loss was $21.2 million, or 27 cents a diluted share, compared with the year ago loss of $21.3 million, or 26 cents. The adjusted net loss was $17.8 million, or 23 cents a diluted share. Net revenues rose 14.7 percent to $521.3 million from $454.3 million. Victor Herrero, chief executive officer, said the results finished “above the high-end of our expectations for revenues, adjusted operating margin and adjusted earnings per share.” He also said revenues in the quarter were driven by “continued momentum in Europe and Asia. We were also able to expand the company’s operating margin, despite cost pressures related to our transition to our new distribution center in Europe.” For its Americas business, Herrero said the company’s retail component ended the quarter with “positive comps while being significantly less promotional.” Retail comps in the quarter, including e-commerce, rose 2 percent in U.S. dollars, and 1 percent in constant currency. The Americas wholesale business saw revenues rise 13.4 percent in U.S. dollars, and up 11.3 percent in constant currency. The ceo also cited the brand’s “continued momentum, as the first quarter marks

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