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United States of America ; Guess reports 13.6% sales jump in H1 |
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2004-8-2
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Guess Inc, the upmarket US clothing and accessories company, remained firmly on the upward path in the first half with a 13.6 percent rise in sales to $307.4 million and a net profit of $2.9 million compared with a net loss of $11.2 million, in the year-earlier period.
The Los Angeles-based company, which in 2003 ended a two-year string of losses and declining sales, informed that business improved thanks to strong like-for-like growth, a 6.3 percent increase in wholesale sales and a 22 percent rise in licensing revenues in the second quarter.
In the six months ended 26 June 2004, retail sales, including stores in Canada, increased by 19.8 percent to $214.8 million with like-for-like sales up 14 percent. Licensing revenue rose 9.6 percent to $20.5 million while sales at the wholesale division dropped slightly by 0.6 percent to $72.1 million.
The group conveyed that ongoing trading was strong and predicted like-for-like growth ‘in the mid-teens’ for July 2004.
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