Los Angeles-based fashion retailer Guess, Inc. reported financial results for its fourth quarter and fiscal year ended February 1, 2020.
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Carlos Alberini, Chief Executive Officer, commented, “I am very pleased to report that we had a strong fourth quarter performance, exceeding our guidance for earnings per share and delivering operating profit at the high end of our expectations. We closed the year with strong liquidity and a solid balance sheet, which positions us well to navigate through the current coronavirus crisis.”
For the fourth quarter of fiscal 2020, the company recorded net earnings of $79.6 million, a 242.6% increase compared to $23.2 million for the fourth quarter of fiscal 2019. Diluted earnings per share increased 321.4% to $1.18 for the fourth quarter of fiscal 2020, compared to $0.28 for the same prior-year quarter.
The company estimates that the share buybacks offset by the convert transaction had a net positive impact of $0.19, or 67.9%, on diluted earnings per share and currency had a negative impact of $0.06 on diluted earnings per share in the fourth quarter of fiscal 2020.
Guess’ adjusted net earnings per share for the fourth quarter ended 1st February, 2020 were increased by 74.3% to $1.22, compared to $0.70 for the same prior-year quarter.
For the fiscal year ended February 1, 2020, the company reported net earnings of $96.0 million, a 580.7% increase compared to $14.1 million for the fiscal year ended 2nd February, 2019. Diluted earnings per share increased 731.3% to $1.33 for the fiscal year ended 1st February, 2020, compared to $0.16 in the prior year.
Total annual net revenue increased 2.6% to $2.68 billion, compared to $2.61 billion in the prior year. In constant currency, net revenue increased by 5.4%.
Europe revenues increased 9.2% and American wholesale revenues increased 9.1%. Americas Retail revenues decreased 1.6% and Asia revenues decreased 10.8%. Licensing revenues increased 3.2% in U.S. dollars.