Stark Contrast In Regional Comparables
Guess saw a comparable decline of 4.9 percent, while Q3 last year saw same-store sales down 6 percent. However, according to Guess
While comparables continued to suffer domestically, European sales grew by 16 percent compared to Q3 2015 and Asian sales by 6 percent.
Management outlined a four-point America’s Retail segment plan to streamline the domestic market and allow overseas growth to “shine through”:
- Focus on rent reduction.
- Store rationalization.
- Infrastructure improvements.
- Digital marketplace initiative.
At time of writing, shares of Guess were trading down 13 percent.
Image Credit: By Eva Rinaldi from Sydney Australia (Gigi Hadid) [CC BY-SA 2.0], via Wikimedia Commons
|May 2016||Miller Tabak||Upgrades||Sell||Hold|
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