**Guess continues to perform strongly on an international scale**
Guess Inc. reported its financial results for the third quarter, ended October 30, 2022, indicating continued strength in its international business despite some challenges in its North American operations. The company’s total net revenue for the quarter was $849 million, a slight decrease of 2.3% year-over-year. However, its international business saw a notable increase, with revenue rising by 13.5% to $342 million. This positive performance was driven by growth across various regions, including Europe and Asia. The company’s comparable store sales in Europe surged by 20%, fueled by robust demand for its products. In terms of product categories, Guess’s denim line remained a key growth driver, resonating well with consumers in international markets. The company’s expansion strategy, including the opening of new retail stores and partnerships with local distributors, also contributed to its international success. While Guess faced some headwinds in the North American market, with comparable store sales declining by 12%, its international business provided a strong counterbalance. The company’s overall revenue decline was primarily attributed to currency headwinds and macroeconomic factors impacting consumer spending in North America. Despite these challenges, Guess remains optimistic about its long-term growth prospects, emphasizing its focus on expanding its global presence and investing in digital channels. The company believes that its international business will continue to be a key driver of growth, supported by its strong brand recognition and product offerings tailored to local markets. Guess plans to maintain its international expansion strategy while navigating the current macroeconomic environment cautiously. The company’s financial performance and international growth trajectory will be closely monitored in the upcoming quarters to assess its ability to sustain this momentum and adapt to evolving market conditions..
