Guess, Inc. reported strong international business performance in its recent financial results. International revenues increased by 16.1% to $553.6 million for the quarter ended October 31, 2023, compared to $476.7 million in the corresponding quarter last year..
**Europe**.
Europe remains a key growth market for Guess, with revenues increasing by 12.8% to $291.9 million in the third quarter, up from $259.1 million in the prior-year period. This growth was driven by strength in key markets such as Germany, France, and the United Kingdom..
**Greater China**.
Despite the ongoing challenges in the Chinese market, Guess saw a significant improvement in its Greater China business. Revenues increased by 25.1% to $130.4 million in the third quarter, compared to $104.2 million in the previous year. This recovery was mainly due to the easing of COVID-19 restrictions and increased consumer spending..
**Other International Markets**.
Other international markets also contributed to Guess’s strong international performance. Revenues in the Americas region (excluding the United States and Canada) increased by 22.2% to $58.2 million, driven by growth in Mexico and Latin America. Additionally, revenues in the Middle East and Africa region increased by 19.7% to $73.1 million, reflecting continued expansion in key markets such as Saudi Arabia, the United Arab Emirates, and Egypt..
**Factors Contributing to Growth**.
Guess attributes its strong international growth to several factors, including:.
* Expanded store network through new store openings and renovations.
* Enhanced product offerings tailored to local market preferences.
* Increased marketing and advertising initiatives to raise brand awareness.
* Strategic partnerships with local distributors and retailers.
* Improved supply chain and logistics to support international expansion.
**Outlook**.
Guess remains optimistic about its international business prospects. The company plans to continue investing in key markets and expanding its global footprint. With its diverse product portfolio, strong brand recognition, and experienced management team, Guess is well-positioned to capitalize on the growing demand for its products worldwide..
