At Guess, the Marcianos remain firmly in control of operations. In what may be one of its final financial reports, the company used its half-year results to detail the agreement that will result in its delisting from the New York Stock Exchange.
Guess prepares to delist from the New York Stock Exchange – Guess
The Los Angeles-based fashion group confirmed that Authentic Brands Group (ABG) will acquire 51% of the intellectual property currently owned by Guess. Founding family members Maurice, Paul, and Nicolai Marciano, along with CEO Carlos Alberini, will retain a 49% stake. However, they will take full ownership of all the group’s operating assets.
This structure mirrors the setup used during the 2024 acquisition of Rag & Bone, where intellectual property was placed in a joint venture with WHP Global—also rumored to be a contender in the Guess delisting deal—while operating assets stayed under company control.
Under the agreement with ABG, minority shareholders will receive $16.75 per share in cash. The transaction is expected to close in the fourth quarter of fiscal 2026, at which point Guess will be delisted from the NYSE.
Results up, but margins under pressure
Guess, which has stopped providing full-year guidance, reported mixed performance for the second quarter ended Aug. 2, 2025. Sales rose to $772.9 million (€711 million), up 6% on a reported basis and 3% at constant exchange rates.
The group reported a net profit of $6.2 million, compared to a loss of $10.6 million in the same period a year earlier. However, operating income dropped sharply to $18.1 million—an operating margin of 2.3%—versus $47.8 million and a 6.5% margin last year. “We are satisfied with our second-quarter performance, with revenues ahead of our expectations, buoyed by momentum in Europe and retail in America,” said Alberini.
For the first half of the year, sales totaled $1.42 billion (€1.31 billion), a 7% increase both reported and at constant exchange rates. Still, the company reported a net loss of $26.7 million, down from a profit of $2.4 million in the same period a year earlier. Operating income came in at -$15.2 million, compared to +$27.9 million last year.
Europe leads, Asia declines
By region, Europe remained the top performer with $742.9 million in sales—up 11% reported and 9% at constant exchange rates. In North America, retail sales reached $336.0 million (up 3% reported and 5% at constant rates), while wholesale sales jumped 21% to $176.6 million (24% at constant rates). Asia, however, declined to $113.9 million, down 10% reported and 9% in constant currency.
Licensing revenues reached $51.3 million, down 12% both on a reported and constant basis. During the first half of the year, Europe was the leading contributor to operating profit, followed by the U.S. wholesale sector. Meanwhile, the company’s U.S. retail division posted a loss due to rising rents and operational costs.
Guess currently operates 1,589 stores under its various brands worldwide, including 1,062 directly operated locations. The company also manages 319 concessions, 244 of which are staffed by its own teams.
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