Guess Inc. announced on Thursday sales for the fiscal 2025 year increased 8% to $3 billion, on the back of a solid fourth quarter helped on by the U.S. retailer’s Rag & Bone acquisition.

The Los Angeles-based company said fourth-quarter sales grew 5% to $932.3 million for three months ending February 1. By region, Europe revenues increased 2%, partially offset by a 15% decline in Asia sales. Domestically, Americas retail revenues lifted 4%, despite retail comparable sales, including e-commerce, taking a 14% dive, while Americas wholesale revenues surged 63%. Licensing revenues rose 18%, the company said.

For the quarter, net income fell 29% to $81.4 million. The company attributed its quarterly growth to the Rag & Bone acquisition, which took place in April last year, as well as “positive momentum” in its wholesale businesses in Europe and the Americas and increased licensing revenues.

“All of our operating segments posted revenue growth, except for our Asia segment,” said Carlos Alberini, chief executive officer, Guess Inc.

“With this performance, we closed the year with revenue growth of 8% in U.S. dollars and 10% in constant currency. During the year, we delivered solid results with our Licensing segment and our wholesale businesses in Europe and the Americas, but missed our plans for our direct-to-consumer business due to slower customer traffic in North America and Asia. All considered, for the year we reached almost $3 billion in revenues and $174 million and $180 million in GAAP and adjusted operating earnings, respectively. Importantly, this year we reached a significant milestone for our company, as we executed our first acquisition in Guess’s history, with the addition of rag & bone to our portfolio.”

In a separate release on Thursday, the iconic American brand announced that Alberto Toni, currently group managing director and chief financial officer of Flos B&B Italia Group S.p.A., has been appointed chief financial officer of Guess, effective mid-June.

Toni will succeed interim CFO Dennis Secor, who will remain with the company as executive vice president through September 12, to support a smooth transition. Toni will be based in Lugano, Switzerland, and will lead Guess’s finance team globally.

“We are excited to welcome Alberto as our company’s next CFO,” said Alberini.

“He brings over 30 years of global financial and operational experience as well as a track record of disciplined execution across established design, retail and consumer-focused companies. We look forward to benefiting from Alberto’s leadership as we work to further optimize our business portfolio, enhance our cost structure and best position Guess for the long-term growth opportunities we see ahead.”