Contemporary apparel maker Guess? Inc has reported record financial results for the fourth quarter and fiscal year ended December 31st 2005. The net revenue and net earnings for the quarter and the year were at their highest levels since the company went public in 1996.
For the fourth quarter of 2005, the company reported net earnings of $25.8 million compared to net earnings of $14.9 million for the fourth quarter of 2004.
Paul Marciano, Co-Chairman and Co-CEO, said, "The record revenues and earnings performance in the fourth quarter cap off a strong year for Guess?. These results reflect the progress that we have made in all our businesses -- retail and wholesale operations in North America, our European business, and domestic and international licensing.”
Marciano continued, "We have been emphasizing the globalization of the Guess? brand and the full-year 2005 results show the early success of this strategy. Our earnings were more balanced geographically with the North American segments contributing about half, and Europe and worldwide licensing the other half. Our European business, including our jeanswear licensee which we acquired in January 2005, earned $28.1 million from operations compared to $7.7 million the prior year. We see further opportunities in Europe and elsewhere, especially in Asia."
Total net revenue for the fourth quarter of 2005 increased 23.5 percent to $276.6 million from $224.0 million in the fourth quarter of 2004. Its retail stores, including those in Canada, generated revenues of $207.1 million in the 2005 fourth quarter, a 20.5 percent increase from $172.0 million reported in the same period a year ago.
marketing@alchempro.com
