**Guess’s International Business Shows Continued Growth**
Guess, Inc. (NYSE: GES), a global lifestyle brand, recently released its financial results for the third quarter of fiscal 2023, revealing a strong performance in its international business.
**International Highlights:**
* **Revenue growth:** The company’s international revenue increased by 12.8% year-over-year to $265.7 million.
* **Store expansion:** Guess opened 31 new international stores during the quarter, bringing the total number to 698.
* **Key markets:** Europe, the Middle East, and Asia Pacific continue to be key growth drivers for the brand.
**Financial Performance**
Overall, Guess reported net revenue of $845.4 million for the third quarter, a 2.2% increase compared to the same period last year.
* **Gross profit:** Gross profit margin remained relatively stable at 39.5%.
* **Net income:** The company’s net income was $45.3 million, a 14.3% increase year-over-year.
* **EPS:** Diluted earnings per share came in at $0.74, surpassing analysts’ estimates.
**Global Outlook**
Despite macroeconomic uncertainties, Guess remains optimistic about its global growth prospects.
* **International expansion:** The company plans to continue expanding its international presence, targeting both established and emerging markets.
* **New product launches:** Guess will focus on launching new and innovative products to cater to changing consumer preferences.
* **Sustainability:** The brand is committed to integrating sustainability into its operations and supply chain.
**CEO’s Perspective**
Carlos Alberini, Guess’s Chief Executive Officer, commented:
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