**Guess: International Business Continues Strong Performance**.
Guess, Inc. reported its financial results for the first quarter ended May 1, 2023, showing continued strength in its international business. The company’s net revenue increased by 11.1% to $830.9 million, with international sales accounting for a significant portion of this growth..
**International Growth**.
Guess’s international business grew by 16.3% in the first quarter, outpacing the company’s overall revenue growth. This growth was driven by strong demand in Europe, Asia, and Latin America..
* **Europe:** Europe remained Guess’s largest international market, with revenue increasing by 14.7%. The company attributed this growth to increased demand for its core denim and accessories lines, as well as the success of its new product launches..
* **Asia:** Asia was another key growth driver for Guess, with revenue surging by 22.1%. The company saw strong demand for its products in China, Japan, and South Korea..
* **Latin America:** Guess’s Latin American business also performed well, with revenue increasing by 18.3%. The company expanded its distribution network in the region and launched new product lines to meet the growing demand for its brand..
**Strong Product Demand**.
Guess’s international growth was driven by strong demand for its core product categories, including denim, accessories, and handbags. The company’s iconic denim jeans remained a top seller, while its accessories and handbags lines continued to gain popularity..
**Digital Growth**.
Guess also saw strong growth in its digital business internationally. The company’s e-commerce sales increased by 25.2% in the first quarter, driven by investments in its online platform and targeted marketing campaigns..
**Financial Performance**.
In addition to its strong international performance, Guess reported an overall net income of $83.3 million, an increase of 20.6% compared to the same period last year. The company’s diluted earnings per share were $1.78, an increase of 22.2%..
**Outlook**.
Guess expressed optimism about its future growth prospects, particularly in its international markets. The company plans to continue expanding its distribution network and introducing new products to meet the growing demand for its brand..
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