Guess?, Inc. reported financial results for the first quarter ended April 30, 2023, including a strong performance by its international business..
**International Business Overview:**.
The company’s international segment generated revenue of $200 million, an increase of 12.5% compared to the same period last year. The growth was primarily driven by Europe and Asia, where sales increased by 15.9% and 11.3%, respectively..
**Europe:**.
Europe continues to be Guess?’s largest international market, accounting for 52.3% of the segment’s revenue. The region experienced a 15.9% increase in sales, driven by strong demand for the company’s denim, handbags, and accessories. The expansion of the Guess retail network and the launch of successful marketing campaigns contributed to the growth..
**Asia:**.
Asia is the second-largest international market for Guess?, contributing 28.9% of the segment’s revenue. The region saw an 11.3% growth, mainly attributed to China and Japan. The company’s focus on product innovation and localized marketing strategies resonated well with Asian consumers..
**Other International Markets:**.
Other international markets, including Canada, Latin America, and the Middle East, also reported positive performance. Canada witnessed a 5.4% growth, while Latin America and the Middle East experienced modest increases of 3.2% and 2.9%, respectively..
**Financial Highlights:**.
* Total revenue for the quarter was $826 million, a 9.3% increase compared to the same period last year..
* Net income increased by 16.7% to $76.8 million..
* Diluted earnings per share were $1.37, a 15.9% increase..
**Management Commentary:**.
Carlos Alberini, CEO of Guess?, Inc., stated: .
