Guess?, Inc. Reports Strong Revenue Growth and Improved Net Income in Q2 2023
Company Achieves Record Net Revenue of $664.5 Million with a 44.3% Gross Profit Margin
Guess?, Inc.(GES), a renowned fashion and lifestyle brand, announced its financial results for the second quarter of 2023, showcasing impressive growth in both net revenue and net income. The company reported net revenue of $664.5 million for the quarter, reflecting a 3.4% increase compared to the same period last year. This growth was driven by robust product sales and steady net royalties. Additionally, Guess? Inc. displayed a remarkable improvement in net income, marking a significant milestone for the brand.
Net Income Sees Notable Improvement
Guess?, Inc. demonstrated a substantial improvement in net income for the second quarter of 2023. The company reported net earnings of $41.96 million, a notable increase from the previous year's net earnings of $27.44 million. This signifies a significant growth of 53.8%, underscoring the brand's successful strategies to enhance profitability and strengthen its market position.
