Guess?, Inc. reported its financial results for the third quarter ended October 30, 2023, posting a 10.1% increase in international net sales, a 0.1% increase in total net revenues, and an increase in diluted earnings per share.
The fashion retailer said total net revenues for Q3 2023 were $842.5 million, an increase of $0.8 million year-over-year. The company’s diluted earnings per share were $1.82, an increase compared to the $1.78 reported in the prior-year period.
Guess’s total company comparable sales increased 1.4% during the quarter.
**International strength**
The company’s international business was a particular highlight, with net sales increasing 10.1%, or $26.7 million, to $286.8 million. Comparable sales for the international segment increased 7.3%, or $19.4 million.
Guess said the increase in international sales was driven by strength in Europe, where net sales rose by $16.1 million, and Asia, where net sales increased by $10.2 million.
However, the company’s Americas business saw a decline in net sales, which decreased 2.2%, or $10.9 million, to $488.9 million, due to a decline in the United States and Canada.
**Outlook**
For the fourth quarter of 2023, Guess expects total net sales to be in the range of $850 million to $880 million, and diluted earnings per share to be in the range of $1.75 to $1.95.
Guess chairman and CEO Carlos Alberini commented on the results, saying: .
