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.
Guess
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.”
Burberry has taken an unusual approach for its High Summer campaign with a slightly less polished approach than usual.
It feel like a series of holiday snaps captured on 35mm film, but as usual with the brand, it’s a very British feel.
Featuring British model Rosie Huntington-Whiteley and British tennis player Jack Draper, alongside models Alva Claire and Babacar N’Doye, “plus a few unmissable extras”, there’s a focus on size and age diversity.
The camera pans from sun loungers to yacht deck, ice lollies to lilos. There’s “even a random scuba diver” with the company’s tongue-in-cheek response to this being that it “can neither confirm nor deny rumours that the ‘random scuba diver’ is, in fact, the Burberry Knight”.
It’s all what creative chief Daniel Lee calls a “Burberry celluloid postcard – an arc of British idiosyncrasies and humour, with factor 50 on”.
He also said it was inspired by various “incredible yachting and holiday images” he found in the archive.
The campaign also includes a series of special events and hotel takeovers at surprise locations (actually The Newt in Somerset, England and The Standard on Ibiza in Spain) and the film celebrating the new High Summer capsule collection.
The film’s British feel is underscored with the ‘Shipping Forecast’ theme tune and the company said it “sits in charming contrast to its soundtrack. A ‘wish you were here?’ of sorts: two weeks away in the sun, but back home it’s raining”.
The cast wears the High Summer collection: a mix of check swimwear and shirt dresses. Nautical motifs, like knots fashioned into logos and sailboats, decorate silk dresses, shirts and shorts, worn with slides or espadrilles. Bags this summer are crochet-knit or woven into jacquards.
Lee said “we wanted to capture the joy of the British at play. A kind of kick-start to the summer. Burberry is a brand for all the seasons, don’t forget.”
Kering-owned fragrance specialist the House of Creed has announced the reopening of its flagship store and largest shop in the UK capital on London’s Regent Street.
It complements additional locations for the more-than-260-year-old brand in beauty hub Covent Garden and on Mount Street in nearby Mayfair.
The store is located in the Grade II listed 1920s Quadrant Arcade and is a “light-filled” two-storey space that carries the House’s full collection of perfumes, bodycare, home and lifestyle offerings – including the new floral rose fragrance Eladaria.
And in line with current trends, the first floor features a new expansion of the boutique, with an exclusive client lounge that has a marble-adorned bar where visitors can enjoy a glass of champagne or coffee. Plus there’s a private suite that “immerses customers in the world of Creed” and showcases the raw ingredients at the heart of every fragrance.
The company said the upstairs area will also serve as a “club space” for the brand, hosting exclusive event series “designed to delight and entertain”.
As would be expected from such a brand, the boutique offers bespoke gifting touches such as perfume engraving, leather monogramming, and ribbon personalisation.
The company also said the newly designed interior “highlights refined craftsmanship”, incorporating high-end materials such as Verde Luana marble, American walnut panelling, brushed brass, and rich textures and fabrics as “a tribute to the brand’s 265-year legacy”.
The shop, like the brand overall, is a mix of the ultra-traditional and a strong heritage feel alongside more modern touches with the heritage element very much to the fore (the scents are still made in the brand’s dedicated production maison in Fontainebleau, France with “Millésime” (or vintage) quality, using “only the finest and rarest of ingredients”.
John Lewis continues to ramp up its fashion offer, but it’s not only focusing on the higher-end as it did with its second drop for the AWAKE Mode collab earlier this month.
John Lewis x Goodie Works
Its latest launch is a new and exclusive collection of men’s T-shirts collaboration with Goodie Works for SS25.
Launched in 2022 by graphic designer Lucy Watson, Goodie Works is a London-based independent homewares and clothing store based around fun cartoon-style prints.
For SS25 Watson has created six exclusive designs featuring her distinctive rubberhose-style cartoon characters that have been printed onto T-shirts in the John Lewis Anyday value-focused collection.
Four regular-fit white tees feature characters in pops of red, lime green, navy and blue, alongside a brown ‘coffee culture’ tee and a forest green ‘wellness club’ one, “each inspired by and designed to convey the joy found in daily life”. The graphics are featured on the front breast pocket, and across the back of each T-shirt. Each one is priced at £20.
As mentioned, the launch comes just a week after the retailer returned to its earlier AWAKE Mode collab with a new drop.
This time it’s a 34-piece collection of denim, tailoring, occasionwear and accessories available online and in five John Lewis stores.
The launch comes after the company said the AW24 collab beat the launch week sales plan on the first day alone.
John Lewis x AWAKE Mode
Queralt Ferrer, John Lewis’s fashion design director, said: “Our customers loved the blend of high quality fabrics and modern, unexpected detailing that the AW collection provided, so it was our goal to recreate this in a way that felt fresh for the new season. April is an incredibly popular time for customers shopping for summer occasionwear as Wedding and Races season gets into full swing, so we added some real showstoppers like the silk organza pleated skirt, structured bandeau dress and two tone pleated dress.”