Guess' (GES) 10-Q 4 Jun 21 2021 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	May 01, 2021	May 28, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	May 1, 2021
Document Transition Report	false
Entity File Number	1-11893
Entity Registrant Name	GUESS INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	95-3679695
Entity Address, Address Line One	1444 South Alameda Street
Entity Address, City or Town	Los Angeles,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90021
City Area Code	213
Local Phone Number	765-3100
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	GES
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		64,923,786
Entity Central Index Key	0000912463
Amendment Flag	false
Current Fiscal Year End Date	--01-30
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	May 01, 2021	Jan. 30, 2021
Current assets:
Cash and cash equivalents	$ 395,128	$ 469,110
Accounts receivable, net	306,297	314,147
Inventories	404,851	389,144
Other current assets	67,907	60,123
Total current assets	1,174,183	1,232,524
Property and equipment, net	211,354	216,196
Goodwill	36,516	36,736
Deferred tax assets	71,979	72,417
Restricted cash	233	235
Operating lease right-of-use assets	738,544	764,804
Other assets	145,200	142,956
Total assets	2,378,009	2,465,868
Current liabilities:
Current portion of borrowings and finance lease obligations	17,917	38,710
Accounts payable	257,926	300,427
Accrued expenses and other current liabilities	176,156	200,602
Current portion of operating lease liabilities	224,676	222,800
Total current liabilities	676,675	762,539
Convertible senior notes, net	261,609	258,614
Long-term operating lease liabilities	632,574	662,657
Other long-term liabilities	139,285	144,004
Total liabilities	1,796,867	1,896,368
Redeemable noncontrolling interests	3,949	3,920
Commitments and contingencies (Note 13)
Stockholders’ equity:
Preferred stock, $.01 par value. Authorized 10,000,000 shares; no shares issued and outstanding	0	0
Common stock, $.01 par value. Authorized 150,000,000 shares; issued 142,792,840 and 142,793,679 shares, outstanding 64,932,613 and 64,230,162 shares, as of May 1, 2021 and January 30, 2021, respectively	649	642
Paid-in capital	550,831	553,111
Retained earnings	1,039,581	1,034,823
Accumulated other comprehensive loss	(120,902)	(120,675)
Treasury stock, 77,860,227 and 78,563,517 shares as of May 1, 2021 and January 30, 2021, respectively	(915,964)	(924,238)
Guess?, Inc. stockholders’ equity	554,195	543,663
Nonredeemable noncontrolling interests	22,998	21,917
Total stockholders’ equity	577,193	565,580
Total liabilities and stockholders' equity	2,378,009	2,465,868
Long-term debt and finance lease liabilities, excluding convertible senior notes
Current liabilities:
Current portion of borrowings and finance lease obligations	17,917	38,710
Long-term debt and finance lease obligations	$ 86,724	$ 68,554

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	May 01, 2021	Jan. 30, 2021
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized (in shares)	10,000,000	10,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	150,000,000	150,000,000
Common stock, issued (in shares)	142,792,840	142,793,679
Common stock, outstanding (in shares)	64,932,613	64,230,162
Treasury stock (in shares)	77,860,227	78,563,517

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	May 01, 2021	May 02, 2020
Net revenue	$ 520,002	$ 260,251
Cost of product sales	308,444	226,022
Gross profit	211,558	34,229
Selling, general and administrative expenses	186,684	143,288
Asset impairment charges	441	52,972
Net (gains) losses on lease modifications	(2,145)	456
Earnings (loss) from operations	26,578	(162,487)
Other income (expense):
Interest expense	(5,926)	(5,462)
Interest income	374	610
Other expense, net	(2,701)	(19,580)
Total other income (expense)	(8,253)	(24,432)
Earnings (loss) before income tax expense (benefit)	18,325	(186,919)
Income tax expense (benefit)	5,455	(26,381)
Net earnings (loss)	12,870	(160,538)
Net earnings (loss) attributable to noncontrolling interests	864	(2,872)
Net earnings (loss) attributable to Guess?, Inc.	$ 12,006	$ (157,666)
Net earnings (loss) per common share attributable to common stockholders (Note 3):
Basic (in dollars per share)	$ 0.19	$ (2.40)
Diluted (in dollars per share)	$ 0.18	$ (2.40)
Weighted average common shares outstanding attributable to common stockholders (Note 3):
Basic (in shares)	64,035	65,715
Diluted (in shares)	65,940	65,715
Product sales
Net revenue	$ 498,477	$ 247,317
Net royalties
Net revenue	$ 21,525	$ 12,934

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended
	May 01, 2021	May 02, 2020
Statement of Comprehensive Income [Abstract]
Net earnings (loss)	$ 12,870	$ (160,538)
Foreign currency translation adjustment
Losses arising during the period	(2,216)	(18,499)
Derivative financial instruments designated as cash flow hedges
Gains arising during the period	1,781	3,536
Less income tax effect	(228)	(356)
Reclassification to net earnings (loss) for (gains) losses realized	398	(1,988)
Less income tax effect	62	219
Defined benefit plans
Foreign currency and other adjustments	129	0
Less income tax effect	(13)	(1)
Net actuarial loss amortization	105	96
Prior service credit amortization	(17)	(16)
Less income tax effect	(11)	(9)
Total comprehensive income (loss)	12,860	(177,556)
Less comprehensive income (loss) attributable to noncontrolling interests:
Net earnings (loss)	864	(2,872)
Foreign currency translation adjustment	217	(3,626)
Amounts attributable to noncontrolling interests	1,081	(6,498)
Comprehensive income (loss) attributable to Guess?, Inc.	$ 11,779	$ (171,058)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	May 01, 2021	May 02, 2020
Cash flows from operating activities:
Net earnings (loss)	$ 12,870	$ (160,538)
Adjustments to reconcile net earnings (loss) to net cash used in operating activities:
Depreciation and amortization	14,188	17,024
Amortization of debt discount	2,781	2,599
Amortization of debt issuance costs	362	307
Share-based compensation expense	4,060	5,786
Forward contract gains	(101)	(1,102)
Net loss from impairment and disposition of long-term assets	1,011	53,483
Other items, net	2,315	9,951
Changes in operating assets and liabilities:
Accounts receivable	4,373	84,667
Inventories	(9,574)	(7,894)
Prepaid expenses and other assets	(15,328)	1,059
Operating lease assets and liabilities, net	(1,953)	27,704
Accounts payable and accrued expenses	(67,724)	(93,294)
Other long-term liabilities	(923)	(1,305)
Net cash used in operating activities	(53,643)	(61,553)
Cash flows from investing activities:
Purchases of property and equipment	(9,139)	(5,973)
Proceeds from sale of business and long-term assets	1,648	257
Net cash settlement of forward contracts	(283)	0
Other investing activities	(14)	0
Net cash used in investing activities	(7,788)	(5,716)
Cash flows from financing activities:
Proceeds from borrowings	5,651	245,961
Repayments on borrowings and finance lease obligations	(9,804)	(31,884)
Dividends paid	(7,511)	(958)
Issuance of common stock, net of tax withholdings on vesting of stock awards	1,945	(3,036)
Net cash provided by (used in) financing activities	(9,719)	210,083
Effect of exchange rates on cash, cash equivalents and restricted cash	(2,834)	(8,014)
Net change in cash, cash equivalents and restricted cash	(73,984)	134,800
Cash, cash equivalents and restricted cash at the beginning of the year	469,345	284,828
Cash, cash equivalents and restricted cash at the end of the period	395,361	419,628
Supplemental cash flow data:
Interest paid	3,977	3,960
Income taxes paid, net of refunds	5,346	590
Non-cash investing and financing activity:
Assets acquired under finance lease obligations	$ 2,323	$ 86

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY Statement - USD ($) $ in Thousands	Total	Common Stock	Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Treasury Stock	Nonredeemable Noncontrolling Interests
Beginning balance (in shares) at Feb. 01, 2020		65,848,510				77,019,437
Beginning balance at Feb. 01, 2020	$ 661,347	$ 658	$ 563,004	$ 1,130,409	$ (139,910)	$ (914,447)	$ 21,633
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	(160,538)			(157,666)			(2,872)
Other comprehensive income (loss), net of income tax	(17,018)				(13,392)		(3,626)
Issuance of common stock under stock compensation plans (in shares)		(1,763,311)				(1,770,223)
Issuance of common stock under stock compensation plans	(3,229)	$ 18	(24,264)			$ 21,017
Issuance of stock under Employee Stock Purchase Plan (in shares)		32,427				(32,427)
Issuance of stock under Employee Stock Purchase Plan	193	$ 0	(192)			$ 385
Share-based compensation	5,786		5,771	15
Dividends, net of forfeitures on non-participating securities	248			248
Ending balance (in shares) at May. 02, 2020		67,644,248				75,216,787
Ending balance at May. 02, 2020	$ 486,789	$ 676	544,319	973,006	(153,302)	$ (893,045)	15,135
Beginning balance (in shares) at Jan. 30, 2021	64,230,162	64,230,162				78,563,517
Beginning balance at Jan. 30, 2021	$ 565,580	$ 642	553,111	1,034,823	(120,675)	$ (924,238)	21,917
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	12,870			12,006			864
Other comprehensive income (loss), net of income tax	(10)				(227)		217
Issuance of common stock under stock compensation plans (in shares)		(689,653)				(690,492)
Issuance of common stock under stock compensation plans	1,713	$ 7	(6,417)			$ 8,123
Issuance of stock under Employee Stock Purchase Plan (in shares)		12,798				(12,798)
Issuance of stock under Employee Stock Purchase Plan	232		81			$ 151
Share-based compensation	4,060		4,056	4
Dividends, net of forfeitures on non-participating securities	$ (7,252)			(7,252)
Ending balance (in shares) at May. 01, 2021	64,932,613	64,932,613				77,860,227
Ending balance at May. 01, 2021	$ 577,193	$ 649	$ 550,831	$ 1,039,581	$ (120,902)	$ (915,964)	$ 22,998

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	May 01, 2021	May 02, 2020
Statement of Stockholders' Equity [Abstract]
Other comprehensive income (loss), tax	$ (190)	$ (147)

Basis of Presentation

Basis of Presentation	3 Months Ended
	May 01, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation Description of the Business Guess?, Inc. (the “Company” or “GUESS?”) designs, markets, distributes and licenses a leading lifestyle collection of contemporary apparel and accessories for men, women and children that reflect the American lifestyle and European fashion sensibilities. The Company’s designs are sold in GUESS? owned stores, to a network of wholesale accounts that includes better department stores, selected specialty retailers and upscale boutiques and through the Internet. GUESS? branded products, some of which are produced under license, are also sold internationally through a series of retail store licensees and wholesale distributors. Interim Financial Statements In the opinion of management, the accompanying unaudited condensed consolidated financial statements of the Company contain all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation of the condensed consolidated balance sheets as of May 1, 2021 and January 30, 2021, the condensed consolidated statements of income (loss), comprehensive income (loss), cash flows and stockholders’ equity for the three months ended May 1, 2021 and May 2, 2020. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) for interim financial information and the instructions to Rule 10-01 of Regulation S-X of the Securities and Exchange Commission (the “SEC”). Accordingly, they have been condensed and do not include all of the information and footnotes required by GAAP for complete financial statements. The results of operations and cash flows for the three months ended May 1, 2021 are not necessarily indicative of the results of operations to be expected for the full fiscal year. These financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended January 30, 2021. Fiscal Periods The three months ended May 1, 2021 had the same number of days as the three months ended May 2, 2020. All references herein to “fiscal 2022,” “fiscal 2021” and “fiscal 2020” represent the results of the 52-week fiscal years ending January 29, 2022, January 30, 2021 and February 1, 2020, respectively. COVID-19 Business Update The coronavirus (or “COVID-19”) pandemic is continuing to impact the Company’s businesses. During the first quarter of fiscal 2022, the Company experienced significantly higher net revenue compared to the first quarter of fiscal 2021 (when government-mandated store closures were much more widespread) but lower net revenue compared to the pre-pandemic first quarter of fiscal 2020 as it remained challenged by lower demand, temporary store closures and capacity restrictions. In light of the current environment, the Company continues to strategically manage expenses in order to protect profitability. In late fiscal 2021, the Company incurred a new round of government-mandated temporary store closures, mostly in Europe. The number of temporarily closed stores ebbed and flowed during the first quarter of fiscal 2022 based on local conditions. As of May 1, 2021, the majority of closed stores were located primarily in Europe and Canada. Summary of Significant Accounting Policies The accounting policies of the Company are set forth in further detail in Note 1 to the Company's Consolidated Financial Statements contained in the Company’s fiscal 2021 Annual Report on Form 10-K. The Company includes herein certain updates to those policies. Reclassifications The Company has made certain reclassifications to prior period amounts to conform to the current period presentation within the accompanying condensed consolidated financial statements and notes to the condensed consolidated financial statements. Use of Estimates The preparation of the financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the amounts reported in the financial statements and disclosed in the accompanying notes. Significant areas requiring the use of management estimates relate to the allowances for doubtful accounts, sales return and markdown allowances, gift card and loyalty accruals, valuation of inventories, share-based compensation, income taxes, recoverability of deferred taxes, unrecognized tax benefits, the useful life of assets for depreciation and amortization, evaluation of asset impairment (including goodwill and long-lived assets, such as property and equipment and operating lease right-of-use (“ROU”) assets), pension obligations, workers’ compensation and medical self-insurance expense and accruals, litigation reserves and restructuring expense and accruals. Actual results could differ from those estimates. Revisions in estimates could materially impact the results of operations and financial position. As discussed above, the COVID-19 pandemic has materially impacted the Company’s results during the three months ended May 1, 2021 and May 2, 2020. The Company’s operations could continue to be impacted in ways the Company is not able to predict today due to the evolving situation. While the Company believes it has made reasonable accounting estimates based on the facts and circumstances that were available as of the reporting date, to the extent there are differences between these estimates and actual results, the Company’s results of operations and financial position could be materially impacted. Revenue Recognition The Company recognizes the majority of its revenue from its direct-to-consumer (brick-and-mortar retail stores and concessions as well as e-commerce) and wholesale distribution channels at a point in time when it satisfies a performance obligation and transfers control of the product to the respective customer. The Company also recognizes royalty revenue from its trademark license agreements. The Company’s trademark license agreements represent symbolic licenses that are dependent on the Company’s continued support over the term of the license agreement. The amount of revenue that is recognized from the licensing arrangements is based on sales-based royalty and advertising fund contributions as well as specific fixed payments, where applicable. The Company’s trademark license agreements customarily provide for a multi-year initial term ranging from three Refer to Note 8 for further information on disaggregation of revenue by segment and country. Allowance for Doubtful Accounts In the normal course of business, the Company grants credit directly to certain wholesale customers after a credit analysis is performed based on financial and other criteria. Accounts receivable are recorded net of an allowance for doubtful accounts. The Company maintains allowances for doubtful accounts for estimated losses that may result from the inability of its wholesale customers and licensing partners to make their required payments. The Company bases its allowances on analysis of the aging of accounts receivable at the date of the financial statements, assessments of historical and current collection trends, evaluation of the impact of current and future forecasted economic conditions and whether the Company has obtained credit insurance or other guarantees. Management performs regular evaluations concerning the ability of its customers and records a provision for doubtful accounts based on these evaluations. As of May 1, 2021, approximately 48% of the Company’s total net trade accounts receivable and 60% of its European net trade receivables were subject to credit insurance coverage, certain bank guarantees or letters of credit for collection purposes. The Company’s credit insurance coverage contains certain terms and conditions specifying deductibles and annual claim limits. Management evaluates the creditworthiness of the counterparties to the credit insurance, bank guarantees, and letters of credit and records a provision for the risk of loss on these instruments based on these evaluations as considered necessary. The Company’s credit losses for the periods presented were not significant compared to sales and did not significantly exceed management’s estimates. Refer to Note 5 for further information on the Company’s allowance for doubtful accounts. Recently Issued Accounting Guidance In March 2020, the Financial Accounting Standards Board (“FASB”) issued authoritative guidance to provide temporary optional expedients and exceptions related to contract modifications and hedge accounting to ease the financial reporting burdens of the expected market transition from LIBOR and other interbank offered rates to alternative reference rates, such as SOFR. This guidance may be adopted up to December 31, 2022. The Company is currently evaluating its election options and the impact on its consolidated financial statements and related disclosures. In August 2020, the FASB issued authoritative guidance to simplify the accounting for convertible instruments and contracts in an entity’s own equity and the diluted earnings per share computations for these instruments. This guidance removes major separation models required under current guidance which will enable more convertible debt instruments to be reported as a single liability instrument with no separate accounting for embedded conversion features. This guidance is effective for fiscal years beginning after December 31, 2021, which will be the Company’s first quarter of fiscal 2023, on either a full or modified retrospective basis. Early adoption is permitted for fiscal years beginning after December 31, 2020, which will be the Company’s first quarter of fiscal 2022. The Company is currently evaluating the impact of the adoption of this guidance on its consolidated financial statements and related disclosures.

Lease Accounting

Lease Accounting	3 Months Ended
	May 01, 2021
Leases [Abstract]
Lease Accounting	Lease Accounting The Company primarily leases its showrooms, advertising, licensing, sales and merchandising offices, remote distribution and warehousing facilities and retail and factory outlet store locations under operating lease agreements expiring on various dates through January 2039. The Company also leases some of its equipment as well as computer hardware and software under operating and finance lease agreements expiring on various dates through May 2027. The Company’s lease agreements primarily provide for lease payments based on a minimum annual rental amount, a percentage of annual sales volume, periodic adjustments related to inflation or a combination of such lease payments. Certain retail store leases provide for lease payments based upon the minimum annual rental amount and a percentage of annual sales volume, generally ranging from 3% to 28%, when specific sales volumes are exceeded. The Company’s retail concession leases also provide for lease payments primarily based upon a percentage of annual sales volume, which averages approximately 33%. In addition to the amounts as disclosed below, the Company has estimated additional operating lease commitments of approximately $5.0 million for leases where the Company has not yet taken possession of the underlying asset as of May 1, 2021. As such, the related operating lease ROU assets and operating lease liabilities have not been recognized in the Company’s condensed consolidated balance sheet as of May 1, 2021. The components of leases are as follows (in thousands): May 1, 2021 Jan 30, 2021 Assets Balance Sheet Location Operating Operating lease right-of-use assets $ 738,544 $ 764,804 Finance Property and equipment, net 21,405 20,595 Total lease assets $ 759,949 $ 785,399 Liabilities Balance Sheet Location Current: Operating Current portion of operating lease liabilities $ 224,676 $ 222,800 Finance Current portion of borrowings and finance lease obligations 4,551 4,698 Noncurrent: Operating Long-term operating lease liabilities 632,574 662,657 Finance Long-term debt and finance lease obligations 17,870 17,365 Total lease liabilities $ 879,671 $ 907,520 The components of lease costs are as follows (in thousands): Three Months Ended Income Statement Location May 1, 2021 May 2, 2020 Operating lease costs Cost of product sales $ 46,684 $ 55,369 Operating lease costs Selling, general and administrative expenses 6,357 5,176 Operating lease costs 1, 2 Net (gains) losses on lease modifications (2,145) 456 Finance lease costs Amortization of leased assets 1, 3 Cost of product sales 11 12 Amortization of leased assets 1, 3 Selling, general and administrative expenses 1,361 864 Interest on lease liabilities Interest expense 366 282 Variable lease costs 4 Cost of product sales 15,739 14,348 Variable lease costs 4 Selling, general and administrative expenses 574 579 Short-term lease costs Cost of product sales 105 239 Short-term lease costs Selling, general and administrative expenses 1,171 1,789 Total lease costs 1 $ 70,223 $ 79,114 ____________________________________________________________________ Notes: 1 The Company has made certain reclassifications to prior period amounts to conform to the current period presentation. 2 During the three months ended May 1, 2021 and May 2, 2020, net (gains) losses on lease modifications related primarily to the early termination of lease agreements for certain of the Company’s retail locations. Operating lease costs for these retail locations prior to the early termination were included in cost of product sales. 3 Amortization of leased assets related to finance leases are included in depreciation expense within cost of product sales or selling, general and administrative expenses depending on the nature of the asset in the Company’s condensed consolidated statements of income (loss). 4 During the three months ended May 1, 2021 and May 2, 2020, variable lease costs included certain rent concessions of approximately $6.1 million and $2.7 million, respectively, received by the Company, primarily in Europe, related to the COVID-19 pandemic. Maturities of the Company’s operating and finance lease liabilities as of May 1, 2021 are as follows (in thousands): Operating Leases Maturity of Lease Liabilities Non-Related Parties Related Parties Finance Leases Total 2022 1 $ 193,515 $ 5,965 $ 4,294 $ 203,774 2023 181,879 7,260 5,974 195,113 2024 146,015 7,678 5,887 159,580 2025 103,560 7,321 3,946 114,827 2026 73,458 6,928 3,034 83,420 After 2026 170,672 36,410 3,158 210,240 Total lease payments 869,099 71,562 26,293 966,954 Less: Interest 71,415 11,996 3,872 87,283 Present value of lease liabilities $ 797,684 $ 59,566 $ 22,421 $ 879,671 ______________________________________________________________________ Notes: 1 Represents the maturity of lease liabilities for the remainder of fiscal 2022 and also includes rent payments that have been deferred due to the COVID-19 pandemic. This amount does not include payments made during the three months ended May 1, 2021. Other supplemental information is as follows (dollars in thousands): Lease Term and Discount Rate May 1, 2021 Weighted-average remaining lease term Operating leases 6.1 Years Finance leases 4.8 Years Weighted-average discount rate Operating leases 3.5% Finance leases 6.8% Three Months Ended Supplemental Cash Flow Information May 1, 2021 May 2, 2020 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 53,428 $ 32,618 New operating ROU assets obtained in exchange for lease liabilities $ 22,596 $ 16,332 Impairment During the three months ended May 1, 2021, there was minimal ROU asset impairment charges recorded. During the three months ended May 2, 2020, the Company recorded ROU asset impairment charges of $28.2 million related primarily to certain retail locations in North America and, to a lesser extent, Europe. The asset impairment charges were determined based on the excess of carrying value over the fair value of the ROU assets. The Company uses estimates of market participant rents to calculate fair value of the ROU assets. Refer to Note 15 for more information on the Company’s impairment testing.
Lease Accounting	Lease Accounting The Company primarily leases its showrooms, advertising, licensing, sales and merchandising offices, remote distribution and warehousing facilities and retail and factory outlet store locations under operating lease agreements expiring on various dates through January 2039. The Company also leases some of its equipment as well as computer hardware and software under operating and finance lease agreements expiring on various dates through May 2027. The Company’s lease agreements primarily provide for lease payments based on a minimum annual rental amount, a percentage of annual sales volume, periodic adjustments related to inflation or a combination of such lease payments. Certain retail store leases provide for lease payments based upon the minimum annual rental amount and a percentage of annual sales volume, generally ranging from 3% to 28%, when specific sales volumes are exceeded. The Company’s retail concession leases also provide for lease payments primarily based upon a percentage of annual sales volume, which averages approximately 33%. In addition to the amounts as disclosed below, the Company has estimated additional operating lease commitments of approximately $5.0 million for leases where the Company has not yet taken possession of the underlying asset as of May 1, 2021. As such, the related operating lease ROU assets and operating lease liabilities have not been recognized in the Company’s condensed consolidated balance sheet as of May 1, 2021. The components of leases are as follows (in thousands): May 1, 2021 Jan 30, 2021 Assets Balance Sheet Location Operating Operating lease right-of-use assets $ 738,544 $ 764,804 Finance Property and equipment, net 21,405 20,595 Total lease assets $ 759,949 $ 785,399 Liabilities Balance Sheet Location Current: Operating Current portion of operating lease liabilities $ 224,676 $ 222,800 Finance Current portion of borrowings and finance lease obligations 4,551 4,698 Noncurrent: Operating Long-term operating lease liabilities 632,574 662,657 Finance Long-term debt and finance lease obligations 17,870 17,365 Total lease liabilities $ 879,671 $ 907,520 The components of lease costs are as follows (in thousands): Three Months Ended Income Statement Location May 1, 2021 May 2, 2020 Operating lease costs Cost of product sales $ 46,684 $ 55,369 Operating lease costs Selling, general and administrative expenses 6,357 5,176 Operating lease costs 1, 2 Net (gains) losses on lease modifications (2,145) 456 Finance lease costs Amortization of leased assets 1, 3 Cost of product sales 11 12 Amortization of leased assets 1, 3 Selling, general and administrative expenses 1,361 864 Interest on lease liabilities Interest expense 366 282 Variable lease costs 4 Cost of product sales 15,739 14,348 Variable lease costs 4 Selling, general and administrative expenses 574 579 Short-term lease costs Cost of product sales 105 239 Short-term lease costs Selling, general and administrative expenses 1,171 1,789 Total lease costs 1 $ 70,223 $ 79,114 ____________________________________________________________________ Notes: 1 The Company has made certain reclassifications to prior period amounts to conform to the current period presentation. 2 During the three months ended May 1, 2021 and May 2, 2020, net (gains) losses on lease modifications related primarily to the early termination of lease agreements for certain of the Company’s retail locations. Operating lease costs for these retail locations prior to the early termination were included in cost of product sales. 3 Amortization of leased assets related to finance leases are included in depreciation expense within cost of product sales or selling, general and administrative expenses depending on the nature of the asset in the Company’s condensed consolidated statements of income (loss). 4 During the three months ended May 1, 2021 and May 2, 2020, variable lease costs included certain rent concessions of approximately $6.1 million and $2.7 million, respectively, received by the Company, primarily in Europe, related to the COVID-19 pandemic. Maturities of the Company’s operating and finance lease liabilities as of May 1, 2021 are as follows (in thousands): Operating Leases Maturity of Lease Liabilities Non-Related Parties Related Parties Finance Leases Total 2022 1 $ 193,515 $ 5,965 $ 4,294 $ 203,774 2023 181,879 7,260 5,974 195,113 2024 146,015 7,678 5,887 159,580 2025 103,560 7,321 3,946 114,827 2026 73,458 6,928 3,034 83,420 After 2026 170,672 36,410 3,158 210,240 Total lease payments 869,099 71,562 26,293 966,954 Less: Interest 71,415 11,996 3,872 87,283 Present value of lease liabilities $ 797,684 $ 59,566 $ 22,421 $ 879,671 ______________________________________________________________________ Notes: 1 Represents the maturity of lease liabilities for the remainder of fiscal 2022 and also includes rent payments that have been deferred due to the COVID-19 pandemic. This amount does not include payments made during the three months ended May 1, 2021. Other supplemental information is as follows (dollars in thousands): Lease Term and Discount Rate May 1, 2021 Weighted-average remaining lease term Operating leases 6.1 Years Finance leases 4.8 Years Weighted-average discount rate Operating leases 3.5% Finance leases 6.8% Three Months Ended Supplemental Cash Flow Information May 1, 2021 May 2, 2020 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 53,428 $ 32,618 New operating ROU assets obtained in exchange for lease liabilities $ 22,596 $ 16,332 Impairment During the three months ended May 1, 2021, there was minimal ROU asset impairment charges recorded. During the three months ended May 2, 2020, the Company recorded ROU asset impairment charges of $28.2 million related primarily to certain retail locations in North America and, to a lesser extent, Europe. The asset impairment charges were determined based on the excess of carrying value over the fair value of the ROU assets. The Company uses estimates of market participant rents to calculate fair value of the ROU assets. Refer to Note 15 for more information on the Company’s impairment testing.

Earnings (Loss) per Share

Earnings (Loss) per Share	3 Months Ended
	May 01, 2021
Earnings Per Share [Abstract]
Earnings (Loss) per Share	Earnings (Loss) per ShareThe Company expects to settle the principal amount of its outstanding convertible senior notes in cash and any excess in shares. As a result, upon conversion of the convertible senior notes, only the amounts in excess of the principal amount are considered in diluted earnings per share under the treasury stock method, if applicable. See Note 10 for more information regarding the Company’s convertible senior notes. In addition, the Company has granted certain nonvested stock units that are subject to certain performance-based or market-based vesting conditions as well as continued service requirements through the respective vesting periods. These nonvested stock units are included in the computation of diluted net earnings per common share attributable to common stockholders only to the extent that the underlying performance-based or market-based vesting conditions are satisfied as of the end of the reporting period, or would be considered satisfied if the end of the reporting period was the end of the related contingency period, and the results would be dilutive under the treasury stock method. The computation of basic and diluted net earnings (loss) per common share attributable to common stockholders is as follows (in thousands, except per share data): Three Months Ended May 1, 2021 May 2, 2020 Net earnings (loss) attributable to Guess?, Inc. $ 12,006 $ (157,666) Less net earnings attributable to nonvested restricted stockholders 130 — Net earnings (loss) attributable to common stockholders $ 11,876 $ (157,666) Weighted average common shares used in basic computations 64,035 65,715 Effect of dilutive securities: Stock options and restricted stock units 1 1,905 — Weighted average common shares used in diluted computations 65,940 65,715 Net earnings (loss) per common share attributable to common stockholders: Basic $ 0.19 $ (2.40) Diluted $ 0.18 $ (2.40) ______________________________________________________________________ Notes: 1 For the three months ended May 2, 2020, there were 484,674 of potentially dilutive shares that were not included in the computation of diluted weighted average common shares and common equivalent shares outstanding because their effect would have been antidilutive given the Company’s net loss. During the three months ended May 1, 2021 and May 2, 2020, equity awards granted for 390,243 and 3,157,824, respectively, of the Company’s common shares were outstanding but were excluded from the computation of diluted weighted average common shares and common equivalent shares outstanding because the assumed proceeds, as calculated under the treasury stock method, resulted in these awards being antidilutive. There were no nonvested stock units subject to the achievement of performance-based or market-based vesting conditions that were excluded from the computation of diluted weighted average common shares and common equivalent shares outstanding as the respective conditions were achieved as of May 1, 2021. The Company excluded 227,729 nonvested stock units which were subject to the achievement of performance-based vesting conditions from the computation of diluted weighted average common shares and common equivalent shares outstanding because these conditions were not achieved as of May 2, 2020. The conversion spread on the Company’s convertible senior notes will have a dilutive impact on diluted earnings per share when the average market price of the Company’s common stock for a given period exceeds the conversion price of $25.78 per share of common stock. For the three months ended May 1, 2021 and May 2, 2020, the convertible senior notes have been excluded from the computation of diluted earnings per share as the effect would be antidilutive since the conversion price of the convertible senior notes exceeded the average market price of the Company’s common stock. Warrants to initially purchase 11.6 million shares of the Company’s common shares at an initial strike price of $46.88 per share were outstanding as of May 1, 2021 and May 2, 2020. These warrants were excluded from the computation of diluted earnings per share since the warrants’ adjusted strike price was greater than the average market price of the Company’s common stock during the three months ended May 1, 2021 and May 2, 2020.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	May 01, 2021
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Share Repurchase Program During the three months ended May 1, 2021 and May 2, 2020, there were no shares repurchased under the Company’s Share Repurchase Program. As of May 1, 2021, the Company had remaining authority under the program to purchase $47.8 million of its common stock. Dividends The following table sets forth the cash dividend declared per share: Three Months Ended May 1, 2021 May 2, 2020 Cash dividend declared per share $ 0.1125 $ — During the first quarter of fiscal 2021, the Company announced that its Board of Directors had deferred the decision with respect to the payment of its quarterly cash dividend, in light of the uncertainties related to the COVID-19 pandemic. The Company resumed paying its quarterly cash dividend of $0.1125 per share beginning in the third quarter of fiscal 2021, but decided to not declare any cash dividends for the first and second quarters of fiscal 2021. For each of the periods presented, dividends paid also included the impact from vesting of restricted stock units that are considered non-participating securities and are only entitled to dividend payments once the respective awards vest. Decisions on whether, when and in what amounts to continue making any future dividend distributions will remain at all times entirely at the discretion of the Company’s Board of Directors, which reserves the right to change or terminate the Company’s dividend practices at any time and for any reason without prior notice. The payment of cash dividends in the future will be based upon a number of business, legal and other considerations, including the Company’s cash flow from operations, capital expenditures, debt service and covenant requirements, cash paid for income taxes, earnings, share repurchases, economic conditions and U.S. and global liquidity. Accumulated Other Comprehensive Income (Loss) The changes in accumulated other comprehensive income (loss), net of related income taxes, are as follows (in thousands): Three Months Ended May 1, 2021 Foreign Currency Translation Adjustment Derivative Financial Instruments Designated as Cash Flow Hedges Defined Benefit Plans Total Balance at January 30, 2021 $ (105,970) $ (4,876) $ (9,829) $ (120,675) Gains (losses) arising during the period (2,433) 1,553 116 (764) Reclassification to net earnings for losses realized — 460 77 537 Net other comprehensive income (loss) (2,433) 2,013 193 (227) Balance at May 1, 2021 $ (108,403) $ (2,863) $ (9,636) $ (120,902) Three Months Ended May 2, 2020 Foreign Currency Translation Adjustment Derivative Financial Instruments Designated as Cash Flow Hedges Defined Benefit Plans Total Balance at February 1, 2020 $ (137,289) $ 6,300 $ (8,921) $ (139,910) Gains (losses) arising during the period (14,873) 3,180 (1) (11,694) Reclassification to net earnings for (gains) losses realized — (1,769) 71 (1,698) Net other comprehensive income (loss) (14,873) 1,411 70 (13,392) Balance at May 2, 2020 $ (152,162) $ 7,711 $ (8,851) $ (153,302) Details on reclassifications out of accumulated other comprehensive income (loss) to net earnings (loss) are as follows (in thousands): Three Months Ended Location of (Gain) Loss Reclassified from Accumulated OCI into Earnings (Loss) May 1, 2021 May 2, 2020 Derivative financial instruments designated as cash flow hedges: Foreign exchange currency contracts $ 462 $ (1,991) Cost of product sales Interest rate swap (64) 3 Interest expense Less income tax effect 62 219 Income tax expense (benefit) 460 (1,769) Defined benefit plans: Net actuarial loss amortization 105 96 Other income (expense) Prior service credit amortization (17) (16) Other income (expense) Less income tax effect (11) (9) Income tax expense (benefit) 77 71 Total reclassifications during the period $ 537 $ (1,698)

Accounts Receivable

Accounts Receivable	3 Months Ended
	May 01, 2021
Receivables [Abstract]
Accounts Receivable	Accounts Receivable Accounts receivable is summarized as follows (in thousands): May 1, 2021 Jan 30, 2021 Trade $ 283,787 $ 288,782 Royalty 20,187 20,565 Other 16,929 19,000 320,903 328,347 Less allowances 14,606 14,200 $ 306,297 $ 314,147 Accounts receivable consists of trade receivables relating primarily to the Company’s wholesale business in Europe and, to a lesser extent, to its wholesale businesses in the Americas and Asia, royalty receivables relating to its licensing operations, credit card and retail concession receivables related to its retail businesses and certain other receivables. Other receivables generally relate to amounts due to the Company that result from activities that are not related to the direct sale of the Company’s products or collection of royalties.

Inventories

Inventories	3 Months Ended
	May 01, 2021
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consist of the following (in thousands): May 1, 2021 Jan 30, 2021 Raw materials $ 217 $ 53 Work in progress 24 43 Finished goods 404,610 389,048 $ 404,851 $ 389,144 The above balances include an allowance to write down inventories to the lower of cost or net realizable value of $36.9 million and $35.5 million as of May 1, 2021 and January 30, 2021, respectively.

Income Taxes

Income Taxes	3 Months Ended
	May 01, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Effective Tax Rate Income tax expense for the interim periods was computed using the tax rate estimated to be applicable for the full fiscal year, adjusted for discrete items. The Company’s effective income tax rate was an expense of 29.8% for the three months ended May 1, 2021, compared to a benefit of 14.1% for the three months ended May 2, 2020. During the three months ended May 2, 2020, the Company recognized a tax benefit of approximately $11.8 million from a tax rate change related to the ability to carryback net operating losses to tax years with a higher federal corporate tax rate as allowed under the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act enacted in March 2020. This benefit was partially offset by a valuation allowance of $3.7 million resulting from jurisdictions where there have been cumulative net operating losses, limiting the Company’s ability to consider other subjective evidence to continue to recognize the existing deferred tax assets. Excluding the impact of these items, the increase in the effective tax rate was due primarily to a change in the mix of statutory earnings for the three months ended May 1, 2021, compared to the same prior-year period. On March 27, 2020, the U.S. government enacted the CARES Act to provide economic relief from the COVID-19 pandemic. The CARES Act includes certain provisions that affect the Company’s income taxes, including temporary five-year net operating loss carryback provisions, relaxation of the net interest deduction limitations and the technical amendment for qualified improvement property deduction. Unrecognized Tax Benefit From time-to-time, the Company is subject to routine income and other tax audits on various tax matters around the world in the ordinary course of business. As of May 1, 2021, several tax audits were ongoing for various periods in multiple jurisdictions. These audits could conclude with an assessment of additional tax liability for the Company. These assessments could arise as the result of timing or permanent differences and could be material to the Company’s net income or future cash flows. In the event the Company disagrees with an assessment from a taxing authority, the Company may elect to appeal, litigate, pursue settlement or take other actions. The Company accrues an amount for its estimate of additional tax liability which the Company, more likely than not, will incur as a result of the ultimate resolution of tax audits (“uncertain tax positions”). The Company reviews and updates the estimates used in the accrual for uncertain tax positions, as appropriate, as more definitive information or interpretations become available from taxing authorities, upon completion of tax audits, upon receipt of assessments, upon expiration of statutes of limitation, or upon occurrence of other events. During the second quarter of fiscal 2021, the Company became aware of a foreign withholding tax regulation that could be interpreted to apply to certain of its previous transactions. The Company currently does not expect that its exposure, if any, will have a material impact on its condensed consolidated financial position, results of operations or cash flows.

Segment Information

Segment Information	3 Months Ended
	May 01, 2021
Segment Reporting [Abstract]
Segment Information	Segment Information The Company’s businesses are grouped into five reportable segments for management and internal financial reporting purposes: Americas Retail, Americas Wholesale, Europe, Asia and Licensing. The Company’s Americas Retail, Americas Wholesale, Europe and Licensing reportable segments are the same as their respective operating segments. Certain components of the Company’s Asia operating segment are separate operating segments based on region, which have been aggregated into the Asia reportable segment for disclosure purposes. Management evaluates segment performance based primarily on revenues and earnings (loss) from operations before corporate performance-based compensation costs, asset impairment charges, net gains (losses) on lease modifications, restructuring charges and certain non-recurring credits (charges), if any. The Company believes this segment reporting reflects how its business segments are managed and how each segment’s performance is evaluated by the Company’s chief operating decision maker to assess performance and make resource allocation decisions. Net revenue and earnings (loss) from operations are summarized as follows (in thousands): Three Months Ended May 1, 2021 May 2, 2020 Net revenue: Americas Retail $ 155,535 $ 74,584 Americas Wholesale 45,430 25,875 Europe 241,852 106,473 Asia 55,660 40,385 Licensing 21,525 12,934 Total net revenue $ 520,002 $ 260,251 Earnings (loss) from operations: Americas Retail $ 20,274 $ (36,673) Americas Wholesale 11,555 1,624 Europe 4,198 (44,406) Asia (1,808) (22,777) Licensing 19,431 10,094 Total segment earnings (loss) from operations 53,650 (92,138) Corporate overhead (28,776) (16,921) Asset impairment charges 1 (441) (52,972) Net gains (losses) on lease modifications 2 2,145 (456) Total earnings (loss) from operations $ 26,578 $ (162,487) ______________________________________________________________________ Notes: 1 During the three months ended May 1, 2021 and May 2, 2020 , the Company recognized asset impairment charges related primarily to impairment of certain operating lease ROU assets and impairment of property and equipment related to certain retail locations resulting from lower revenue and future cash flow projections from the ongoing effects of the COVID-19 pandemic . Refer to Note 2 and Note 15 for more information regarding these asset impairment charges. 2 During the three months ended May 1, 2021 and May 2, 2020, the Company recorded net gains (losses) on lease modifications related primarily to the early termination of lease agreements for certain of the Company’s retail locations. The table below presents information regarding geographic areas in which the Company operated. Net revenue is classified primarily based on the country where the Company’s customer is located (in thousands): Three Months Ended May 1, 2021 May 2, 2020 Net revenue: U.S. $ 157,066 $ 69,465 Italy 47,553 19,352 Germany 34,678 11,362 South Korea 27,809 21,224 Canada 26,640 16,677 Spain 25,507 12,996 Other foreign countries 179,224 96,241 Total product sales 498,477 247,317 Net royalties 21,525 12,934 Net revenue $ 520,002 $ 260,251

Borrowings and Finance Lease Ob

Borrowings and Finance Lease Obligations	3 Months Ended
	May 01, 2021
Debt Disclosure [Abstract]
Borrowings and Finance Lease Obligations	Borrowings and Finance Lease Obligations Borrowings and finance lease obligations are summarized as follows (in thousands): May 1, 2021 Jan 30, 2021 Term loans $ 55,951 $ 56,765 Finance lease obligations 22,421 22,063 Mortgage debt 18,346 18,507 Borrowings under credit facilities 5,097 7,332 Other 2,826 2,597 104,641 107,264 Less current installments 17,917 38,710 Long-term debt and finance lease obligations $ 86,724 $ 68,554 Term Loans As a precautionary measure to ensure financial flexibility and maintain maximum liquidity in response to the COVID-19 pandemic, in addition to drawing down on certain of the credit facilities as noted below, the Company entered into term loans with certain banks primarily in Europe during the fiscal year ended January 30, 2021. These loans are primarily unsecured, have terms ranging from one- and provide annual interest rates ranging between 0.5% to 2.2%. As of May 1, 2021 and January 30, 2021, the Company had outstanding borrowings of $56.0 million and $56.8 million under these borrowing arrangements, respectively. Finance Lease Obligations During fiscal 2018, the Company entered into a finance lease related to equipment used in its European distribution center located in the Netherlands. The finance lease primarily provides for monthly minimum lease payments through May 2027 with an effective interest rate of approximately 6%. During fiscal 2021, the Company also entered into finance leases for equipment used in its European distribution centers located in Italy. These finance lease obligations totaled $19.2 million and $18.4 million as of May 1, 2021 and January 30, 2021, respectively. The Company also has smaller finance leases related primarily to computer hardware and software. As of May 1, 2021 and January 30, 2021, these finance lease obligations totaled $3.2 million and $3.7 million, respectively. Mortgage Debt During fiscal 2017, the Company entered into a ten Credit Facilities During fiscal 2021, the Company entered into an amendment of its senior secured asset-based revolving credit facility with Bank of America, N.A. and other lenders (as amended, the “Credit Facility”). The Credit Facility provides for a borrowing capacity in an amount up to $120 million, including a Canadian sub-facility up to $20 million, subject to a borrowing base. Based on applicable accounts receivable and inventory balances as of May 1, 2021, the Company could have borrowed up to $109 million under the Credit Facility. The Credit Facility has an option to expand the borrowing capacity by up to $180 million subject to certain terms and conditions, including the willingness of existing or new lenders to assume such increased amount. The Credit Facility is available for direct borrowings and the issuance of letters of credit, subject to certain letters of credit sublimits, and may be used for working capital and other general corporate purposes. As of May 1, 2021, the Company had $2.1 million in outstanding standby letters of credit, no outstanding documentary letters of credit and no outstanding borrowings under the Credit Facility. The Credit Facility requires the Company to comply with a fixed charge coverage ratio on a trailing four-quarter basis if a default or an event of default occurs under the Credit Facility or generally if borrowings exceed 80% of the borrowing base. In addition, the Credit Facility contains customary covenants, including covenants that limit or restrict the Company and certain of its subsidiaries’ ability to: incur liens, incur indebtedness, make investments, dispose of assets, make certain restricted payments, merge or consolidate and enter into certain transactions with affiliates. Upon the occurrence of an event of default under the Credit Facility, the lenders may cease making loans, terminate the Credit Facility and declare all amounts outstanding to be immediately due and payable. The Credit Facility specifies a number of events of default (some of which are subject to applicable grace or cure periods), including, among other things, non-payment defaults, covenant defaults, cross-defaults to other material indebtedness, bankruptcy and insolvency defaults, and material judgment defaults. The Credit Facility allows for both secured and unsecured borrowings outside of the Credit Facility up to specified amounts. The Company, through its European subsidiaries, maintains short-term committed and uncommitted borrowing agreements, primarily for working capital purposes, with various banks in Europe. Some of these agreements include certain equity-based financial covenants. As of May 1, 2021, the Company had no outstanding borrowings, no outstanding documentary letters of credit and $113.5 million available for future borrowings under these agreements. The agreements are denominated primarily in euros and provide for annual interest rates ranging from 1.05% to 1.1%. The Company, through its China subsidiary, maintains a short-term uncommitted bank borrowing agreement that provides for a borrowing capacity up to $30 million, primarily for working capital purposes. The Company had $5.1 million and $7.3 million in outstanding borrowings under this agreement as of May 1, 2021 and January 30, 2021, respectively. Other

Convertible Senior Notes and Re

Convertible Senior Notes and Related Transactions	3 Months Ended
	May 01, 2021
Debt Disclosure [Abstract]
Convertible Senior Notes and Related Transactions	Convertible Senior Notes and Related Transactions 2.00% Convertible Senior Notes due 2024 In April 2019, the Company issued $300 million principal amount of 2.00% convertible senior notes due 2024 (the “Notes”) in a private offering. In connection with the issuance of the Notes, the Company entered into an indenture (the “Indenture”) with respect to the Notes with U.S. Bank N.A., as trustee (the “Trustee”). The Notes are senior unsecured obligations of the Company and bear interest at an annual rate of 2.00% payable semi-annually in arrears on April 15 and October 15 of each year, beginning on October 15, 2019. The Notes will mature on April 15, 2024, unless earlier repurchased or converted in accordance with their terms. The Notes are convertible in certain circumstances into cash, shares of the Company’s common stock, or a combination of cash and shares of the Company’s common stock, at the Company’s election, at an initial conversion rate of 38.7879 shares of common stock per $1,000 principal amount of Notes, which is equivalent to an initial conversion price of approximately $25.78 per share, subject to adjustment upon the occurrence of certain events. Prior to November 15, 2023, the Notes are convertible only upon the occurrence of certain events and during certain periods, and thereafter, at any time until the close of business on the second scheduled trading day immediately preceding the maturity date of the Notes. Following certain corporate events described in the Indenture that occur prior to the maturity date, the conversion rate will be increased for a holder who elects to convert its Notes in connection with such corporate event in certain circumstances. The Notes are not redeemable prior to maturity, and no sinking fund is provided for the Notes. As of May 1, 2021, none of the conditions allowing holders of the Notes to convert had been met. The Company expects to settle the principal amount of the Notes in 2024 in cash and any excess in shares. The Company separated the Notes into liability and equity components. The liability component was recorded at fair value. The equity component represented the difference between the proceeds from the issuance of the Notes and the fair value of the liability component. The excess of the liability component over its carrying amount (“debt discount”) is being amortized to interest expense over the term of the Notes. The equity component is not remeasured as long as it continues to meet the conditions for equity classification. Debt issuance costs related to the Notes were comprised of discounts and commissions payable to the initial purchasers of $3.8 million and third-party offering costs of approximately $1.5 million. The Company allocated the total amount incurred to the liability and equity components based on their relative values. Debt issuance costs attributable to the liability component were recorded as a contra-liability and are presented net against the convertible senior notes balance on the Company’s condensed consolidated balance sheets. These costs are being amortized to interest expense over the term of the Notes. During the three months ended May 1, 2021 and May 2, 2020, the Company recorded $2.8 million and $2.6 million, respectively, of interest expense related to the amortization of the debt discount. The Notes consist of the following components (in thousands): May 1, 2021 Jan 30, 2021 Liability component: Principal $ 300,000 $ 300,000 Unamortized debt discount (35,841) (38,623) Unamortized issuance costs (2,550) (2,763) Net carrying amount $ 261,609 $ 258,614 Equity component, net 1 $ 42,320 $ 42,320 ______________________________________________________________________ Notes: 1 Included in paid-in capital within stockholders’ equity on the condensed consolidated balance sheets and is net of debt issuance costs and deferred taxes. As of May 1, 2021 and January 30, 2021, the fair value, net of unamortized debt discount and issuance costs, of the Notes was approximately $339.5 million and $303.5 million, respectively. The fair value of the Notes is determined based on inputs that are observable in the market and have been classified as Level 2 in the fair value hierarchy. Convertible Bond Hedge and Warrant Transactions In connection with the offering of the Notes, the Company entered into convertible note hedge transactions whereby the Company had the option to purchase a total of approximately 11.6 million shares of its common stock at an initial strike price of approximately $25.78 per share, in each case subject to adjustment in certain circumstances. The total cost of the convertible note hedge transactions was $61.0 million. In addition, the Company sold warrants whereby the holders of the warrants had the option to purchase a total of approximately 11.6 million shares of the Company’s common stock at an initial strike price of $46.88 per share. Both the number of shares underlying the convertible note hedges and warrants and the strike price of the instruments are subject to customary adjustments. The Company received $28.1 million in cash proceeds from the sale of these warrants. Taken together, the purchase of the convertible note hedges and sale of the warrants are intended to offset dilution from the conversion of the Notes to the extent the market price per share of the Company’s common stock exceeds the adjusted strike price of the convertible note hedges. The warrant transaction may have a dilutive effect with respect to the Company’s common stock to the extent the market price per share of the Company’s common stock exceeds the adjusted strike price of the warrants. The convertible note hedges and warrants are recorded in stockholders’ equity, are not accounted for as derivatives and are not remeasured each reporting period. The Company had a deferred tax liability of $8.8 million in connection with the debt discount associated with the Notes and a deferred tax asset of $9.7 million in connection with the convertible note hedge transactions for each of the periods ended May 1, 2021 and January 30, 2021. The net deferred tax impact was included in deferred tax assets on the Company’s condensed consolidated balance sheets.

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	May 01, 2021
Share-based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation The following table summarizes the share-based compensation expense recognized under all of the Company’s stock plans (in thousands): Three Months Ended May 1, 2021 May 2, 2020 Stock options $ 907 $ 695 Stock awards/units 3,073 4,926 Employee Stock Purchase Plan 80 165 Total share-based compensation expense $ 4,060 $ 5,786 Unrecognized compensation cost related to nonvested stock options and nonvested stock awards/units totaled approximately $7.1 million and $22.5 million, respectively, as of May 1, 2021. This cost is expected to be recognized over a weighted average period of 1.7 years. Annual Grants On April 13, 2021, the Company made an annual grant of 367,440 nonvested stock awards/units to its employees. Performance-Based Awards The Company has granted certain nonvested stock units subject to performance-based vesting conditions to select executive officers. Each award of nonvested stock units generally has an initial vesting period from the date of the grant through either (i) the end of the first fiscal year or (ii) the first anniversary of the date of grant, followed by annual vesting periods which may range from two- The Company has also granted a target number of nonvested stock units to select key management, including certain executive officers. The number of shares that may ultimately vest with respect to each award may range from 0% up to 200% of the target number of shares, subject to the achievement of certain performance-based vesting conditions. Any shares that are ultimately issued are scheduled to vest at the end of the third fiscal year following the grant date. The following table summarizes the activity for nonvested performance-based units during the three months ended May 1, 2021: Number of Units Weighted Average Grant Date Fair Value Nonvested at January 30, 2021 769,632 $ 16.15 Granted — — Vested (166,547) 14.06 Forfeited (186,714) 21.83 Nonvested at May 1, 2021 416,371 $ 14.45 Market-Based Awards The Company has granted certain nonvested stock units subject to market-based vesting conditions to select executive officers. The number of shares that may ultimately vest will equal 0% to 150% of the target number of shares, subject to the performance of the Company’s total stockholder return (“TSR”) relative to the TSR of a select group of peer companies over a three-year period. Vesting is also subject to continued service requirements through the vesting date. The following table summarizes the activity for nonvested market-based units during the three months ended May 1, 2021: Number of Units Weighted Average Grant Date Fair Value Nonvested at January 30, 2021 509,012 $ 8.67 Granted 1 41,955 20.28 Vested 1 (125,822) 20.28 Nonvested at May 1, 2021 425,145 $ 6.38 ____________________________________________________________________ Notes: 1 As a result of the achievement of certain market-based vesting conditions, there were 41,955 shares that vested in addition to the original target number of shares granted in fiscal 2019.

Related Party Transactions

Related Party Transactions	3 Months Ended
	May 01, 2021
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The Company and its subsidiaries periodically enter into transactions with other entities or individuals that are considered related parties, including certain transactions with entities owned by, affiliated with, or for the respective benefit of, Paul Marciano, who is an executive and member of the Board of the Company, and Maurice Marciano, who is also a member of the Board, and certain of their children (the “Marciano Entities”). Leases The Company leases warehouse and administrative facilities, including the Company’s corporate headquarters in Los Angeles, California, from partnerships affiliated with the Marciano Entities and certain of their affiliates. There were four of these leases in effect as of May 1, 2021 with expiration or option exercise dates ranging from calendar years 2021 to 2030. During the first quarter of fiscal 2022, the Company entered into a nine-year lease extension with the related party landlord for its existing office location in Paris, France, which includes a Company option for early termination at the end of the third and sixth years. The lease has standard terms with a quarterly base charge plus a variable charge aggregating approximately €0.9 million per year (with subsequent annual rent adjustments based on a specified price index). All other material terms in the previously existing Paris lease remain the same. Aggregate lease costs recorded under these four related party leases were approximately $2.2 million and $1.3 million for the three months ended May 1, 2021 and May 2, 2020, respectively. The Company believes the terms of the related party leases have not been significantly affected by the fact the Company and the lessors are related. Aircraft Arrangements The Company periodically charters aircraft owned by the Marciano Entities through informal arrangements with the Marciano Entities and independent third-party management companies contracted by such Marciano Entities to manage their aircraft. The total fees paid under these arrangements for the three months ended May 1, 2021 and May 2, 2020 were approximately $0.9 million and $0.2 million, respectively. Minority Investment The Company owns a 30% interest in a privately held men’s footwear company (the “Footwear Company”) in which Marciano Entities also own a 45% interest. In December 2020, the Company provided the Footwear Company with a revolving credit facility for $2.0 million, which provides for an annual interest rate of 2.75% and matures in November 2023. As of both May 1, 2021 and January 30, 2021, the Company had a note receivable of $0.2 million included in other assets in its consolidated balance sheets related to outstanding borrowings by the Footwear Company under this revolving credit facility.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	May 01, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Investment Commitments As of May 1, 2021, the Company had an unfunded commitment to invest €2.3 million ($2.8 million) in a private equity fund. Refer to Note 15 for further information. Legal and Other Proceedings The Company is involved in legal proceedings, arising both in the ordinary course of business and otherwise, including the proceedings described below as well as various other claims and other matters incidental to the Company’s business. Unless otherwise stated, the resolution of any particular proceeding is not currently expected to have a material adverse impact on the Company’s financial position, results of operations or cash flows. Even if such an impact could be material, the Company may not be able to estimate the reasonably possible loss or range of loss until developments in the proceedings have provided sufficient information to support an assessment. The Company has received customs tax assessment notices from the Italian Customs Agency (“ICA”) regarding its customs tax audit of one of the Company’s European subsidiaries for the period from July 2010 through December 2012. Such assessments totaled €9.8 million ($11.8 million), including potential penalties and interest. The Company strongly disagreed with the ICA’s positions and therefore filed appeals with the Milan First Degree Tax Court (“MFDTC”). Those appeals were split into a number of different cases that were then heard by different sections of the MFDTC. The MFDTC ruled in favor of the Company on all of these appeals. The ICA subsequently appealed €9.7 million ($11.7 million) of these favorable MFDTC judgments with the Appeals Court. To date, €8.5 million ($10.2 million) have been decided in favor of the Company and €1.2 million ($1.4 million) have been decided in favor of the ICA. The Company believes that the unfavorable Appeals Court ruling is incorrect and inconsistent with the prior rulings on similar matters by both the MFDTC and other judges within the Appeals Court, and has appealed the decision to the Supreme Court. The ICA has appealed most of the favorable Appeals Court rulings to the Supreme Court. To date, of the cases that have been appealed to the Supreme Court, €0.4 million ($0.5 million) have been decided in favor of the Company based on the merits of the case and €1.1 million ($1.3 million) have been remanded back to the lower court for further consideration. There can be no assurances the Company will be successful in the remaining appeals. It also continues to be possible that the Company will receive similar or even larger assessments for periods subsequent to December 2012 or other claims or charges related to the matter in the future. Although the Company believes that it has a strong position and will continue to vigorously defend this matter, it is unable to predict with certainty whether or not these efforts will ultimately be successful or whether the outcome will have a material impact on the Company’s financial position, results of operations or cash flows. On January 19, 2021, a former model for the Company filed an action against the Company's Chief Creative Officer and the Company in the California Superior Court in Los Angeles (Jane Doe v. Paul Marciano, et al.). The complaint asserts several claims based on allegations that the former model was treated improperly by Mr. Marciano and retaliated against by the Company. The complaint seeks an unspecified amount of general damages, medical expenses, lost earnings, punitive damages and attorneys’ fees. The case is still at an early stage. Mr. Marciano and the Company dispute these claims fully and intend to contest them vigorously. In March and April 2021, the Company received separate communications from two other individuals containing similar allegations against Mr. Marciano and the Company. Mr. Marciano and the Company also dispute these allegations fully. Each individual who contacted the Company in March and April is represented by the same attorney who represents the plaintiff in the January lawsuit, though no complaint has been filed with respect to either of these allegations. Redeemable Noncontrolling Interests The Company is party to a put arrangement with respect to the common securities that represent the remaining noncontrolling interest for its majority-owned subsidiary, Guess Brasil Comércio e Distribuição S.A. (“Guess Brazil”). The put arrangement for Guess Brazil, representing 40% of the total outstanding equity interest of that subsidiary, may be exercised at the discretion of the noncontrolling interest holder by providing written notice to the Company every third anniversary beginning in March 2019, subject to certain time restrictions. The redemption value of the Guess Brazil put arrangement is based on a multiple of Guess Brazil’s earnings before interest, taxes, depreciation and amortization subject to certain adjustments and is classified as a redeemable noncontrolling interest outside of permanent equity in the Company’s condensed consolidated balance sheet. The carrying value of the redeemable noncontrolling interest related to Guess Brazil was $0.9 million as of May 1, 2021 and January 30, 2021. The Company is also party to a put arrangement with respect to the common securities that represent the remaining noncontrolling interest for its majority-owned subsidiary, Guess? CIS, LLC (“Guess CIS”), which was established through a majority-owned joint venture during fiscal 2016. The put arrangement for Guess CIS, representing 30% of the total outstanding equity interest of that subsidiary, may be exercised at the discretion of the noncontrolling interest holder by providing written notice to the Company during the period beginning after the fifth anniversary of the agreement through December 31, 2025, or sooner in certain limited circumstances. The redemption value of the Guess CIS put arrangement is based on a multiple of Guess CIS’s earnings before interest, taxes, depreciation and amortization subject to certain adjustments and is classified as a redeemable noncontrolling interest outside of permanent equity in the Company’s condensed consolidated balance sheet. The carrying value of the redeemable noncontrolling interest related to Guess CIS was $3.0 million as of May 1, 2021 and January 30, 2021. A reconciliation of the total carrying amount of redeemable noncontrolling interests is as follows (in thousands): Three Months Ended May 1, 2021 May 2, 2020 Beginning balance $ 3,920 $ 4,731 Foreign currency translation adjustment 29 (797) Ending balance $ 3,949 $ 3,934

Defined Benefit Plans

Defined Benefit Plans	3 Months Ended
	May 01, 2021
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Defined Benefit Plans	Defined Benefit Plans Supplemental Executive Retirement Plan The Company’s Supplemental Executive Retirement Plan (“SERP”) provides select employees who satisfy certain eligibility requirements with certain benefits upon retirement, termination of employment, death, disability or a change in control of the Company, in certain prescribed circumstances. As a non-qualified pension plan, no dedicated funding of the SERP is required; however, the Company has made periodic payments into insurance policies held in a rabbi trust to fund the expected obligations arising under the non-qualified SERP. The cash surrender values of the insurance policies were $71.6 million and $72.1 million as of May 1, 2021 and January 30, 2021, respectively, and were included in other assets in the Company’s condensed consolidated balance sheets. As a result of changes in the value of the insurance policy investments, the Company recorded minimal unrealized gains (losses) during the three months ended May 1, 2021 and $(3.1) million in other income (expense) during the three months ended May 2, 2020. The projected benefit obligation was $52.1 million and $52.3 million as of May 1, 2021 and January 30, 2021, respectively, and was included in accrued expenses and other long-term liabilities in the Company’s condensed consolidated balance sheets depending on the expected timing of payments. SERP benefit payments of $0.5 million and $0.6 million were made during the three months ended May 1, 2021 and May 2, 2020, respectively. Foreign Pension Plans In certain foreign jurisdictions, primarily in Switzerland, the Company is required to guarantee the returns on Company-sponsored defined contribution plans in accordance with local regulations. The Company’s contributions must be made in an amount at least equal to the employee’s contribution. Minimum employee contributions are based on the respective employee’s age, salary and gender. As of May 1, 2021 and January 30, 2021, the foreign pension plans had a total projected benefit obligation of $40.6 million and $41.5 million, respectively, and plan assets held in independent investment fiduciaries of $34.3 million and $35.0 million, respectively. The net liability of $6.3 million and $6.4 million was included in other long-term liabilities in the Company’s condensed consolidated balance sheets as of May 1, 2021 and January 30, 2021, respectively. The components of net periodic defined benefit pension cost related to the Company’s defined benefit plans are as follows (in thousands): Three Months Ended May 1, 2021 SERP Foreign Pension Plans Total Service cost $ — $ 790 $ 790 Interest cost 289 19 308 Expected return on plan assets — (52) (52) Net amortization of unrecognized prior service credit — (17) (17) Net amortization of actuarial losses 20 85 105 Net periodic defined benefit pension cost $ 309 $ 825 $ 1,134 Three Months Ended May 2, 2020 SERP Foreign Pension Plans Total Service cost $ — $ 764 $ 764 Interest cost 319 8 327 Expected return on plan assets — (45) (45) Net amortization of unrecognized prior service credit — (16) (16) Net amortization of actuarial losses 10 86 96 Net periodic defined benefit pension cost $ 329 $ 797 $ 1,126

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	May 01, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Authoritative guidance defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The guidance establishes a fair value hierarchy, which prioritizes the inputs used in measuring fair value into three broad levels as follows: Level 1—Inputs are unadjusted quoted prices in active markets for identical assets or liabilities that can be accessed at the measurement date. Level 2—Inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (i.e. interest rates, yield curves, etc.) and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs). Level 3—Unobservable inputs that reflect assumptions about what market participants would use in pricing the asset or liability. These inputs are based on the best information available, including the Company’s own data. The following table presents the fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis (in thousands): Fair Value Measurements Fair Value Measurements at May 1, 2021 at Jan 30, 2021 Recurring Fair Value Measures Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Foreign exchange currency contracts $ — $ 353 $ — $ 353 $ — $ — $ — $ — Total $ — $ 353 $ — $ 353 $ — $ — $ — $ — Liabilities: Foreign exchange currency contracts $ — $ 2,580 $ — $ 2,580 $ — $ 4,481 $ — $ 4,481 Interest rate swap — 665 — 665 — 999 — 999 Deferred compensation obligations — 16,845 — 16,845 — 15,612 — 15,612 Total $ — 20,090 $ — $ 20,090 $ — $ 21,092 $ — $ 21,092 Foreign exchange currency contracts may be entered into by the Company to hedge the future payment of inventory and intercompany transactions by non-U.S. subsidiaries. Periodically, the Company may also use foreign exchange currency contracts to hedge the translation and economic exposures related to its net investments in certain of its international subsidiaries. The fair values of the Company’s foreign exchange currency contracts are based on quoted foreign exchange forward rates at the reporting date. The fair values of the Company’s interest rate swaps are based upon inputs corroborated by observable market data. Deferred compensation obligations to employees are adjusted based on changes in the fair value of the underlying employee-directed investments. Fair value of these obligations is based upon inputs corroborated by observable market data. The Company included €2.5 million ($3.0 million) and €2.4 million ($3.0 million) in other assets in the Company’s condensed consolidated balance sheets related to its investment in a private equity fund for the periods ended May 1, 2021 and January 30, 2021, respectively. The Company uses net asset value per share as a practical expedient to measure the fair value of this investment and has not included this investment in the fair value hierarchy as disclosed above. As of May 1, 2021, the Company had an unfunded commitment to invest an additional €2.3 million ($2.8 million) in the private equity fund. The fair values of the Company’s debt instruments (see Note 9) are based on the amount of future cash flows associated with each instrument discounted using the Company’s incremental borrowing rate. As of May 1, 2021 and January 30, 2021, the carrying value was not materially different from fair value, as the interest rates on the Company’s debt approximated rates currently available to the Company. The fair value of the Company’s convertible senior notes (see Note 10) is determined based on inputs that are observable in the market and have been classified as Level 2 in the fair value hierarchy. The carrying amount of the Company’s remaining financial instruments, which principally include cash and cash equivalents, trade receivables, accounts payable and accrued expenses, approximates fair value due to the relatively short maturity of such instruments. Long-Lived Assets Long-lived assets, such as property and equipment and operating lease ROU assets, are reviewed for impairment quarterly or whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The majority of the Company’s long-lived assets relate to its retail operations which consist primarily of regular retail and flagship locations. The Company considers each individual regular retail location as an asset group for impairment testing, which is the lowest level at which individual cash flows can be identified. The Company also evaluates impairment risk for retail locations that are expected to be closed in the foreseeable future. The Company has flagship locations that are used as a regional marketing tool to build brand awareness and promote the Company’s current product. Provided the flagship locations continue to meet the appropriate criteria, impairment for these locations is tested at a reporting unit level similar to goodwill since they do not have separately identifiable cash flows. An asset is considered to be impaired if the Company determines that the carrying value may not be recoverable based upon its assessment of the asset’s ability to continue to generate earnings from operations and positive cash flow in future periods or if significant changes in the Company’s strategic business objectives and utilization of the assets occurred. If the carrying amount of an asset exceeds its estimated undiscounted future cash flows adjusted for lease payments, an impairment charge is recognized in the amount by which the carrying amount of the asset exceeds the estimated fair value. The Company uses estimates of market participant rents to calculate fair value of ROU assets and discounted future cash flows of the asset group to quantify fair value for other long-lived assets. These nonrecurring fair value measurements are considered Level 3 inputs as defined above. The impairment loss calculations require management to apply judgment in estimating future cash flows and the discount rates that reflect the risk inherent in future cash flows. Future expected cash flows for assets in regular retail locations are based on management’s estimates of future cash flows over the remaining lease period or expected life, if shorter. For expected location closures, the Company will evaluate whether it is necessary to shorten the useful life for any of the assets within the respective asset group. The Company will use this revised useful life when estimating the asset group’s future cash flows. The Company considers historical trends, expected future business trends and other factors when estimating the future cash flow for each regular retail location. The Company also considers factors such as the following: the local environment for each regular retail location, including mall traffic and competition; the Company’s ability to successfully implement strategic initiatives; and the ability to control variable costs such as cost of sales and payroll and, in some cases, renegotiate lease costs. As discussed further in Note 1, the COVID-19 pandemic has materially impacted the Company’s financial results during the three months ended May 1, 2021 and May 2, 2020 and could continue to impact the Company’s operations in ways the Company is not able to predict today due to the evolving situation. The Company has made reasonable assumptions and judgments to determine the fair value of the assets tested based on the facts and circumstances that were available as of the reporting date. If actual results are not consistent with the assumptions and judgments used in estimating future cash flows and asset fair values, there may be additional exposure to future impairment losses that could be material to the Company’s results of operations. The Company recorded asset impairment charges of $0.4 million and $53.0 million during the three months ended May 1, 2021 and May 2, 2020, respectively. The Company recognized minimal ROU asset impairment in the three months ended May 1, 2021 and $28.2 million in impairment of certain operating lease ROU assets primarily in North America and, to a lesser extent, Europe during the three months ended May 2, 2020. The Company also recognized $0.4 million and $24.8 million in impairment of property and equipment related to certain retail locations primarily in North America, Europe and Asia driven by lower revenue and future cash flow projections from the ongoing effects of the COVID-19 pandemic during the three months ended May 1, 2021 and May 2, 2020, respectively. Refer to Note 2 for further information on impairment charges recognized on operating lease ROU assets. Goodwill Goodwill is tested annually for impairment or more frequently if events and circumstances indicate that the asset might be impaired. An impairment loss is recognized to the extent that the carrying amount exceeds the asset’s fair value. This determination is made at the reporting unit level which may be either an operating segment or one level below an operating segment if discrete financial information is available. Two or more reporting units within an operating segment may be aggregated for impairment testing if they have similar economic characteristics. The COVID-19 pandemic materially impacted the Company’s businesses beginning in the first quarter of fiscal 2021. As a result, the Company concluded that a triggering event had occurred resulting in the need to perform quantitative interim impairment testing on the Company’s goodwill and flagship assets as of May 2, 2020. The testing concluded that the fair values of the respective reporting units exceeded their carrying amounts as of May 2, 2020. Accordingly, the Company did not record any asset impairment charges on its goodwill or flagship assets. In performing its assessment, the Company believed it made reasonable accounting estimates based on the facts and circumstances that were available as of the testing date in light of the evolving situation resulting from the COVID-19 pandemic. If actual results are not consistent with the assumptions and

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	May 01, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments Hedging Strategy Foreign Exchange Currency Contracts The Company operates in foreign countries, which exposes it to market risk associated with foreign currency exchange rate fluctuations. The Company has entered into certain forward contracts to hedge the risk of foreign currency rate fluctuations. The Company has elected to apply the hedge accounting rules in accordance with authoritative guidance for certain of these hedges. The Company’s primary objective is to hedge the variability in forecasted cash flows due to the foreign currency risk. Various transactions that occur primarily in Europe, Canada, South Korea, China, Hong Kong and Mexico are denominated in U.S. dollars, British pounds and Russian roubles and thus are exposed to earnings risk as a result of exchange rate fluctuations when converted to their functional currencies. These types of transactions include U.S. dollar-denominated purchases of merchandise and U.S. dollar- and British pound-denominated intercompany liabilities. In addition, certain operating expenses, tax liabilities and pension-related liabilities are denominated in Swiss francs and are exposed to earnings risk as a result of exchange rate fluctuations when converted to the functional currency. Further, there are certain real estate leases that are denominated in a currency other than the functional currency of the respective entity that entered into the agreement (primarily Swiss francs, Russian roubles and Polish zloty). As a result, the Company may be exposed to volatility related to unrealized gains or losses on the translation of present value of future lease payment obligations when translated at the exchange rate as of a reporting period-end. The Company enters into derivative financial instruments, including forward exchange currency contracts, to offset some, but not all, of the exchange risk on certain of these anticipated foreign currency transactions. Periodically, the Company may also use foreign exchange currency contracts to hedge the translation and economic exposures related to its net investments in certain of its international subsidiaries. Interest Rate Swap Agreements The Company is exposed to interest rate risk on its floating-rate debt. The Company has entered into interest rate swap agreements for certain of these agreements to effectively convert its floating-rate debt to a fixed-rate basis. The principal objective of these contracts is to eliminate or reduce the variability of the cash flows in interest payments associated with the Company’s floating-rate debt, thus reducing the impact of interest rate changes on future interest payment cash flows. The Company has elected to apply the hedge accounting rules in accordance with authoritative guidance for certain of these contracts. Refer to Note 9 for further information. The impact of the credit risk of the counterparties to the derivative contracts is considered in determining the fair value of the foreign exchange currency contracts and interest rate swap agreements. As of May 1, 2021, credit risk has not had a significant effect on the fair value of the Company’s foreign exchange currency contracts and interest rate swap agreements. Hedge Accounting Policy Foreign Exchange Currency Contracts U.S. dollar forward contracts are used to hedge forecasted merchandise purchases over specific months. Changes in the fair value of these U.S. dollar forward contracts, designated as cash flow hedges, are recorded as a component of accumulated other comprehensive income (loss) within stockholders’ equity and are recognized in cost of product sales in the period that approximates the time the hedged merchandise inventory is sold. The Company may hedge forecasted intercompany royalties over specific months. Changes in the fair value of these U.S. dollar forward contracts, designated as cash flow hedges, are recorded as a component of accumulated other comprehensive income (loss) within stockholders’ equity and are recognized in other income (expense) in the period in which the royalty expense is incurred. The Company has also used U.S. dollar forward contracts to hedge the net investments of certain of the Company’s international subsidiaries over specific months. Changes in the fair value of these U.S. dollar forward contracts, designated as net investment hedges, are recorded in foreign currency translation adjustment as a component of accumulated other comprehensive income (loss) within stockholders’ equity and are not recognized in earnings (loss) until the sale or liquidation of the hedged net investment. The Company has also foreign exchange currency contracts that are not designated as hedging instruments for accounting purposes. Changes in fair value of foreign exchange currency contracts not designated as hedging instruments are reported in net earnings (loss) as part of other income (expense). Interest Rate Swap Agreements Interest rate swap agreements are used to hedge the variability of the cash flows in interest payments associated with the Company’s floating-rate debt. Changes in the fair value of interest rate swap agreements designated as cash flow hedges are recorded as a component of accumulated other comprehensive income (loss) within stockholders’ equity and are amortized to interest expense over the term of the related debt. Periodically, the Company may also enter into interest rate swap agreements that are not designated as hedging instruments for accounting purposes. Changes in the fair value of interest rate swap agreements not designated as hedging instruments are reported in net earnings (loss) as part of other income (expense). Summary of Derivative Instruments The fair value of derivative instruments in the condensed consolidated balance sheets is as follows (in thousands): Derivative Balance Sheet Location Fair Value at May 1, 2021 Fair Value at Jan 30, 2021 ASSETS: Derivatives designated as hedging instruments: Cash flow hedges: Foreign exchange currency contracts Other current assets/Other assets $ 353 $ — Total $ 353 $ — LIABILITIES: Derivatives designated as hedging instruments: Cash flow hedges: Foreign exchange currency contracts Accrued expenses $ 1,663 $ 3,326 Interest rate swap Other long-term liabilities 665 999 Total derivatives designated as hedging instruments 2,328 4,325 Derivatives not designated as hedging instruments: Foreign exchange currency contracts Accrued expenses 917 1,155 Total $ 3,245 $ 5,480 Derivatives Designated as Hedging Instruments Foreign Exchange Currency Contracts Designated as Cash Flow Hedges During the three months ended May 1, 2021, the Company purchased U.S. dollar forward contracts in Europe totaling US$40.0 million that were designated as cash flow hedges. As of May 1, 2021, the Company had forward contracts outstanding for its European operations of US$126.0 million to hedge forecasted merchandise purchases, which are expected to mature over the next 15 months. As of May 1, 2021, accumulated other comprehensive income (loss) related to foreign exchange currency contracts included a net unrealized loss of approximately $2.3 million, net of tax, which will be recognized in cost of product sales over the following 12 months, at the then current values on a pre-tax basis, which can be different than the current quarter-end values. At January 30, 2021, the Company had forward contracts outstanding for its European operations of US$100.0 million that were designated as cash flow hedges. Interest Rate Swap Agreement Designated as Cash Flow Hedge As of May 1, 2021, accumulated other comprehensive income (loss) related to the interest rate swap agreement included a net unrealized loss of $0.5 million, net of tax, which will be recognized in interest expense over the following 12 months, at the then current values on a pre-tax basis, which can be different than the current quarter-end values. The following table summarizes the gains (losses) before taxes recognized on the derivative instruments designated as cash flow hedges in OCI and net earnings (loss) for the three months ended May 1, 2021 and May 2, 2020 (in thousands): Gains (Losses) Recognized in OCI Location of Gains (Losses) Reclassified from Accumulated OCI into Earnings Gains (Losses) Reclassified from Accumulated OCI into Earnings Three Months Ended Three Months Ended May 1, 2021 May 2, 2020 May 1, 2021 May 2, 2020 Derivatives designated as cash flow hedges: Foreign exchange currency contracts $ 1,511 $ 4,410 Cost of product sales $ (462) $ 1,991 Interest rate swap 270 (874) Interest expense 64 (3) The following table summarizes net after-tax derivative activity recorded in accumulated other comprehensive income (loss) (in thousands): Three Months Ended May 1, 2021 May 2, 2020 Beginning balance gain (loss) $ (4,876) $ 6,300 Net gains from changes in cash flow hedges 1,553 3,180 Net (gains) losses reclassified into earnings (loss) 460 (1,769) Ending balance gain (loss) $ (2,863) $ 7,711 Foreign Exchange Currency Contracts Not Designated as Hedging Instruments As of May 1, 2021, the Company had euro foreign exchange currency contracts to purchase US$19.0 million expected to mature over the next one month. As of January 30, 2021, the Company had euro foreign exchange currency contracts to purchase US$19.0 million. The following table summarizes the gains (losses) before taxes recognized on the derivative instruments not designated as hedging instruments in other income (expense) (in thousands): Location of Gain Recognized in Earnings (Loss) Gain Recognized in Earnings (Loss) Three Months Ended May 1, 2021 May 2, 2020 Derivatives not designated as hedging instruments: Foreign exchange currency contracts Other income (expense) $ 71 $ 1,088

Subsequent Events

Subsequent Events	3 Months Ended
	May 01, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Dividends On May 27, 2021, the Company announced a regular quarterly cash dividend of $0.1125 per share on the Company’s common stock. The cash dividend will be paid on June 25, 2021 to shareholders of record as of the close of business on June 9, 2021.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	May 01, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Interim Financial Statements	Interim Financial StatementsIn the opinion of management, the accompanying unaudited condensed consolidated financial statements of the Company contain all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation of the condensed consolidated balance sheets as of May 1, 2021 and January 30, 2021, the condensed consolidated statements of income (loss), comprehensive income (loss), cash flows and stockholders’ equity for the three months ended May 1, 2021 and May 2, 2020. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) for interim financial information and the instructions to Rule 10-01 of Regulation S-X of the Securities and Exchange Commission (the “SEC”). Accordingly, they have been condensed and do not include all of the information and footnotes required by GAAP for complete financial statements. The results of operations and cash flows for the three months ended May 1, 2021 are not necessarily indicative of the results of operations to be expected for the full fiscal year.
Fiscal Periods	Fiscal Periods The three months ended May 1, 2021 had the same number of days as the three months ended May 2, 2020. All references herein to “fiscal 2022,” “fiscal 2021” and “fiscal 2020” represent the results of the 52-week fiscal years ending January 29, 2022, January 30, 2021 and February 1, 2020, respectively.
COVID Related Relief Programs	COVID-19 Business Update The coronavirus (or “COVID-19”) pandemic is continuing to impact the Company’s businesses. During the first quarter of fiscal 2022, the Company experienced significantly higher net revenue compared to the first quarter of fiscal 2021 (when government-mandated store closures were much more widespread) but lower net revenue compared to the pre-pandemic first quarter of fiscal 2020 as it remained challenged by lower demand, temporary store closures and capacity restrictions. In light of the current environment, the Company continues to strategically manage expenses in order to protect profitability.
Reclassifications	Reclassifications The Company has made certain reclassifications to prior period amounts to conform to the current period presentation within the accompanying condensed consolidated financial statements and notes to the condensed consolidated financial statements.
Use of Estimates	Use of Estimates The preparation of the financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the amounts reported in the financial statements and disclosed in the accompanying notes. Significant areas requiring the use of management estimates relate to the allowances for doubtful accounts, sales return and markdown allowances, gift card and loyalty accruals, valuation of inventories, share-based compensation, income taxes, recoverability of deferred taxes, unrecognized tax benefits, the useful life of assets for depreciation and amortization, evaluation of asset impairment (including goodwill and long-lived assets, such as property and equipment and operating lease right-of-use (“ROU”) assets), pension obligations, workers’ compensation and medical self-insurance expense and accruals, litigation reserves and restructuring expense and accruals. Actual results could differ from those estimates. Revisions in estimates could materially impact the results of operations and financial position. As discussed above, the COVID-19 pandemic has materially impacted the Company’s results during the three months ended May 1, 2021 and May 2, 2020. The Company’s operations could continue to be impacted in ways the Company is not able to predict today due to the evolving situation. While the Company believes it has made reasonable accounting estimates based on the facts and circumstances that were available as of the reporting date, to the extent there are differences between these estimates and actual results, the Company’s results of operations and financial position could be materially impacted.
Revenue Recognition	Revenue Recognition The Company recognizes the majority of its revenue from its direct-to-consumer (brick-and-mortar retail stores and concessions as well as e-commerce) and wholesale distribution channels at a point in time when it satisfies a performance obligation and transfers control of the product to the respective customer. three
Allowance for Doubtful Accounts	Allowance for Doubtful Accounts In the normal course of business, the Company grants credit directly to certain wholesale customers after a credit analysis is performed based on financial and other criteria. Accounts receivable are recorded net of an allowance for doubtful accounts. The Company maintains allowances for doubtful accounts for estimated losses that may result from the inability of its wholesale customers and licensing partners to make their required payments. The Company bases its allowances on analysis of the aging of accounts receivable at the date of the financial statements, assessments of historical and current collection trends, evaluation of the impact of current and future forecasted economic conditions and whether the Company has obtained credit insurance or other guarantees. Management performs regular evaluations concerning the ability of its customers and records a provision for doubtful accounts based on these evaluations.
New Accounting Guidance	Recently Issued Accounting Guidance In March 2020, the Financial Accounting Standards Board (“FASB”) issued authoritative guidance to provide temporary optional expedients and exceptions related to contract modifications and hedge accounting to ease the financial reporting burdens of the expected market transition from LIBOR and other interbank offered rates to alternative reference rates, such as SOFR. This guidance may be adopted up to December 31, 2022. The Company is currently evaluating its election options and the impact on its consolidated financial statements and related disclosures. In August 2020, the FASB issued authoritative guidance to simplify the accounting for convertible instruments and contracts in an entity’s own equity and the diluted earnings per share computations for these instruments. This guidance removes major separation models required under current guidance which will enable more convertible debt instruments to be reported as a single liability instrument with no separate accounting for embedded conversion features. This guidance is effective for fiscal years beginning after December 31, 2021, which will be the Company’s first quarter of fiscal 2023, on either a full or modified retrospective basis. Early adoption is permitted for fiscal years beginning after December 31, 2020, which will be the Company’s first quarter of fiscal 2022. The Company is currently evaluating the impact of the adoption of this guidance on its consolidated financial statements and related disclosures.

Lease Accounting (Tables)

Lease Accounting (Tables)	3 Months Ended
	May 01, 2021
Leases [Abstract]
Assets and liabilities, lessee	he components of leases are as follows (in thousands): May 1, 2021 Jan 30, 2021 Assets Balance Sheet Location Operating Operating lease right-of-use assets $ 738,544 $ 764,804 Finance Property and equipment, net 21,405 20,595 Total lease assets $ 759,949 $ 785,399 Liabilities Balance Sheet Location Current: Operating Current portion of operating lease liabilities $ 224,676 $ 222,800 Finance Current portion of borrowings and finance lease obligations 4,551 4,698 Noncurrent: Operating Long-term operating lease liabilities 632,574 662,657 Finance Long-term debt and finance lease obligations 17,870 17,365 Total lease liabilities $ 879,671 $ 907,520
Lease cost	Three Months Ended Income Statement Location May 1, 2021 May 2, 2020 Operating lease costs Cost of product sales $ 46,684 $ 55,369 Operating lease costs Selling, general and administrative expenses 6,357 5,176 Operating lease costs 1, 2 Net (gains) losses on lease modifications (2,145) 456 Finance lease costs Amortization of leased assets 1, 3 Cost of product sales 11 12 Amortization of leased assets 1, 3 Selling, general and administrative expenses 1,361 864 Interest on lease liabilities Interest expense 366 282 Variable lease costs 4 Cost of product sales 15,739 14,348 Variable lease costs 4 Selling, general and administrative expenses 574 579 Short-term lease costs Cost of product sales 105 239 Short-term lease costs Selling, general and administrative expenses 1,171 1,789 Total lease costs 1 $ 70,223 $ 79,114 ____________________________________________________________________ Notes: 1 The Company has made certain reclassifications to prior period amounts to conform to the current period presentation. 2 During the three months ended May 1, 2021 and May 2, 2020, net (gains) losses on lease modifications related primarily to the early termination of lease agreements for certain of the Company’s retail locations. Operating lease costs for these retail locations prior to the early termination were included in cost of product sales. 3 Amortization of leased assets related to finance leases are included in depreciation expense within cost of product sales or selling, general and administrative expenses depending on the nature of the asset in the Company’s condensed consolidated statements of income (loss). 4 During the three months ended May 1, 2021 and May 2, 2020, variable lease costs included certain rent concessions of approximately $6.1 million and $2.7 million, respectively, received by the Company, primarily in Europe, related to the COVID-19 pandemic.
Operating lease liabilities maturity schedule	Maturities of the Company’s operating and finance lease liabilities as of May 1, 2021 are as follows (in thousands): Operating Leases Maturity of Lease Liabilities Non-Related Parties Related Parties Finance Leases Total 2022 1 $ 193,515 $ 5,965 $ 4,294 $ 203,774 2023 181,879 7,260 5,974 195,113 2024 146,015 7,678 5,887 159,580 2025 103,560 7,321 3,946 114,827 2026 73,458 6,928 3,034 83,420 After 2026 170,672 36,410 3,158 210,240 Total lease payments 869,099 71,562 26,293 966,954 Less: Interest 71,415 11,996 3,872 87,283 Present value of lease liabilities $ 797,684 $ 59,566 $ 22,421 $ 879,671 ______________________________________________________________________ Notes:
Finance lease liabilities maturity schedule	Maturities of the Company’s operating and finance lease liabilities as of May 1, 2021 are as follows (in thousands): Operating Leases Maturity of Lease Liabilities Non-Related Parties Related Parties Finance Leases Total 2022 1 $ 193,515 $ 5,965 $ 4,294 $ 203,774 2023 181,879 7,260 5,974 195,113 2024 146,015 7,678 5,887 159,580 2025 103,560 7,321 3,946 114,827 2026 73,458 6,928 3,034 83,420 After 2026 170,672 36,410 3,158 210,240 Total lease payments 869,099 71,562 26,293 966,954 Less: Interest 71,415 11,996 3,872 87,283 Present value of lease liabilities $ 797,684 $ 59,566 $ 22,421 $ 879,671 ______________________________________________________________________ Notes:
Other supplemental information	Other supplemental information is as follows (dollars in thousands): Lease Term and Discount Rate May 1, 2021 Weighted-average remaining lease term Operating leases 6.1 Years Finance leases 4.8 Years Weighted-average discount rate Operating leases 3.5% Finance leases 6.8% Three Months Ended Supplemental Cash Flow Information May 1, 2021 May 2, 2020 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 53,428 $ 32,618 New operating ROU assets obtained in exchange for lease liabilities $ 22,596 $ 16,332

Earnings (Loss) per Share (Tabl

Earnings (Loss) per Share (Tables)	3 Months Ended
	May 01, 2021
Earnings Per Share [Abstract]
Computation of basic and diluted net earnings (loss) per common share attributable to common stockholders	The computation of basic and diluted net earnings (loss) per common share attributable to common stockholders is as follows (in thousands, except per share data): Three Months Ended May 1, 2021 May 2, 2020 Net earnings (loss) attributable to Guess?, Inc. $ 12,006 $ (157,666) Less net earnings attributable to nonvested restricted stockholders 130 — Net earnings (loss) attributable to common stockholders $ 11,876 $ (157,666) Weighted average common shares used in basic computations 64,035 65,715 Effect of dilutive securities: Stock options and restricted stock units 1 1,905 — Weighted average common shares used in diluted computations 65,940 65,715 Net earnings (loss) per common share attributable to common stockholders: Basic $ 0.19 $ (2.40) Diluted $ 0.18 $ (2.40) ______________________________________________________________________ Notes: 1 For the three months ended May 2, 2020, there were 484,674 of potentially dilutive shares that were not included in the computation of diluted weighted average common shares and common equivalent shares outstanding because their effect would have been antidilutive given the Company’s net loss.

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	May 01, 2021
Equity [Abstract]
Schedule of cash dividend declared per share	The following table sets forth the cash dividend declared per share: Three Months Ended May 1, 2021 May 2, 2020 Cash dividend declared per share $ 0.1125 $ —
Schedule of changes in accumulated other comprehensive income (loss), net of related income taxes	The changes in accumulated other comprehensive income (loss), net of related income taxes, are as follows (in thousands): Three Months Ended May 1, 2021 Foreign Currency Translation Adjustment Derivative Financial Instruments Designated as Cash Flow Hedges Defined Benefit Plans Total Balance at January 30, 2021 $ (105,970) $ (4,876) $ (9,829) $ (120,675) Gains (losses) arising during the period (2,433) 1,553 116 (764) Reclassification to net earnings for losses realized — 460 77 537 Net other comprehensive income (loss) (2,433) 2,013 193 (227) Balance at May 1, 2021 $ (108,403) $ (2,863) $ (9,636) $ (120,902) Three Months Ended May 2, 2020 Foreign Currency Translation Adjustment Derivative Financial Instruments Designated as Cash Flow Hedges Defined Benefit Plans Total Balance at February 1, 2020 $ (137,289) $ 6,300 $ (8,921) $ (139,910) Gains (losses) arising during the period (14,873) 3,180 (1) (11,694) Reclassification to net earnings for (gains) losses realized — (1,769) 71 (1,698) Net other comprehensive income (loss) (14,873) 1,411 70 (13,392) Balance at May 2, 2020 $ (152,162) $ 7,711 $ (8,851) $ (153,302)
Reclassifications out of accumulated other comprehensive income (loss) to net earnings (loss)	Details on reclassifications out of accumulated other comprehensive income (loss) to net earnings (loss) are as follows (in thousands): Three Months Ended Location of (Gain) Loss Reclassified from Accumulated OCI into Earnings (Loss) May 1, 2021 May 2, 2020 Derivative financial instruments designated as cash flow hedges: Foreign exchange currency contracts $ 462 $ (1,991) Cost of product sales Interest rate swap (64) 3 Interest expense Less income tax effect 62 219 Income tax expense (benefit) 460 (1,769) Defined benefit plans: Net actuarial loss amortization 105 96 Other income (expense) Prior service credit amortization (17) (16) Other income (expense) Less income tax effect (11) (9) Income tax expense (benefit) 77 71 Total reclassifications during the period $ 537 $ (1,698)

Accounts Receivable (Tables)

Accounts Receivable (Tables)	3 Months Ended
	May 01, 2021
Receivables [Abstract]
Schedule of accounts receivable	Accounts receivable is summarized as follows (in thousands): May 1, 2021 Jan 30, 2021 Trade $ 283,787 $ 288,782 Royalty 20,187 20,565 Other 16,929 19,000 320,903 328,347 Less allowances 14,606 14,200 $ 306,297 $ 314,147

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	May 01, 2021
Inventory Disclosure [Abstract]
Schedule of inventories	Inventories consist of the following (in thousands): May 1, 2021 Jan 30, 2021 Raw materials $ 217 $ 53 Work in progress 24 43 Finished goods 404,610 389,048 $ 404,851 $ 389,144

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	May 01, 2021
Segment Reporting [Abstract]
Summary of net revenue and earnings (loss) from operations by segment	Net revenue and earnings (loss) from operations are summarized as follows (in thousands): Three Months Ended May 1, 2021 May 2, 2020 Net revenue: Americas Retail $ 155,535 $ 74,584 Americas Wholesale 45,430 25,875 Europe 241,852 106,473 Asia 55,660 40,385 Licensing 21,525 12,934 Total net revenue $ 520,002 $ 260,251 Earnings (loss) from operations: Americas Retail $ 20,274 $ (36,673) Americas Wholesale 11,555 1,624 Europe 4,198 (44,406) Asia (1,808) (22,777) Licensing 19,431 10,094 Total segment earnings (loss) from operations 53,650 (92,138) Corporate overhead (28,776) (16,921) Asset impairment charges 1 (441) (52,972) Net gains (losses) on lease modifications 2 2,145 (456) Total earnings (loss) from operations $ 26,578 $ (162,487) ______________________________________________________________________ Notes: 1 During the three months ended May 1, 2021 and May 2, 2020 , the Company recognized asset impairment charges related primarily to impairment of certain operating lease ROU assets and impairment of property and equipment related to certain retail locations resulting from lower revenue and future cash flow projections from the ongoing effects of the COVID-19 pandemic . Refer to Note 2 and Note 15 for more information regarding these asset impairment charges. 2 During the three months ended May 1, 2021 and May 2, 2020, the Company recorded net gains (losses) on lease modifications related primarily to the early termination of lease agreements for certain of the Company’s retail locations.
Summary of net revenue by country	Net revenue is classified primarily based on the country where the Company’s customer is located (in thousands): Three Months Ended May 1, 2021 May 2, 2020 Net revenue: U.S. $ 157,066 $ 69,465 Italy 47,553 19,352 Germany 34,678 11,362 South Korea 27,809 21,224 Canada 26,640 16,677 Spain 25,507 12,996 Other foreign countries 179,224 96,241 Total product sales 498,477 247,317 Net royalties 21,525 12,934 Net revenue $ 520,002 $ 260,251

Borrowings and Finance Lease _2

Borrowings and Finance Lease Obligations (Tables)	3 Months Ended
	May 01, 2021
Debt Disclosure [Abstract]
Summary of borrowings and finance lease obligations	Borrowings and finance lease obligations are summarized as follows (in thousands): May 1, 2021 Jan 30, 2021 Term loans $ 55,951 $ 56,765 Finance lease obligations 22,421 22,063 Mortgage debt 18,346 18,507 Borrowings under credit facilities 5,097 7,332 Other 2,826 2,597 104,641 107,264 Less current installments 17,917 38,710 Long-term debt and finance lease obligations $ 86,724 $ 68,554

Convertible Senior Notes and _2

Convertible Senior Notes and Related Transactions (Tables)	3 Months Ended
	May 01, 2021
Debt Disclosure [Abstract]
Convertible Debt	The Notes consist of the following components (in thousands): May 1, 2021 Jan 30, 2021 Liability component: Principal $ 300,000 $ 300,000 Unamortized debt discount (35,841) (38,623) Unamortized issuance costs (2,550) (2,763) Net carrying amount $ 261,609 $ 258,614 Equity component, net 1 $ 42,320 $ 42,320 ______________________________________________________________________ Notes: 1 Included in paid-in capital within stockholders’ equity on the condensed consolidated balance sheets and is net of debt issuance costs and deferred taxes.

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	May 01, 2021
Share-based Payment Arrangement [Abstract]
Schedule of share-based compensation expense recognized under all of the Company's stock plans	The following table summarizes the share-based compensation expense recognized under all of the Company’s stock plans (in thousands): Three Months Ended May 1, 2021 May 2, 2020 Stock options $ 907 $ 695 Stock awards/units 3,073 4,926 Employee Stock Purchase Plan 80 165 Total share-based compensation expense $ 4,060 $ 5,786
Schedule of activity for nonvested performance-based units	The following table summarizes the activity for nonvested performance-based units during the three months ended May 1, 2021: Number of Units Weighted Average Grant Date Fair Value Nonvested at January 30, 2021 769,632 $ 16.15 Granted — — Vested (166,547) 14.06 Forfeited (186,714) 21.83 Nonvested at May 1, 2021 416,371 $ 14.45
Schedule of activity for nonvested market-based units	The following table summarizes the activity for nonvested market-based units during the three months ended May 1, 2021: Number of Units Weighted Average Grant Date Fair Value Nonvested at January 30, 2021 509,012 $ 8.67 Granted 1 41,955 20.28 Vested 1 (125,822) 20.28 Nonvested at May 1, 2021 425,145 $ 6.38 ____________________________________________________________________ Notes: 1 As a result of the achievement of certain market-based vesting conditions, there were 41,955 shares that vested in addition to the original target number of shares granted in fiscal 2019.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	May 01, 2021
Commitments and Contingencies Disclosure [Abstract]
Redeemable Noncontrolling Interest	A reconciliation of the total carrying amount of redeemable noncontrolling interests is as follows (in thousands): Three Months Ended May 1, 2021 May 2, 2020 Beginning balance $ 3,920 $ 4,731 Foreign currency translation adjustment 29 (797) Ending balance $ 3,949 $ 3,934

Defined Benefit Plans (Tables)

Defined Benefit Plans (Tables)	3 Months Ended
	May 01, 2021
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Components of net periodic defined benefit pension cost related to the Company's defined benefit plans	The components of net periodic defined benefit pension cost related to the Company’s defined benefit plans are as follows (in thousands): Three Months Ended May 1, 2021 SERP Foreign Pension Plans Total Service cost $ — $ 790 $ 790 Interest cost 289 19 308 Expected return on plan assets — (52) (52) Net amortization of unrecognized prior service credit — (17) (17) Net amortization of actuarial losses 20 85 105 Net periodic defined benefit pension cost $ 309 $ 825 $ 1,134 Three Months Ended May 2, 2020 SERP Foreign Pension Plans Total Service cost $ — $ 764 $ 764 Interest cost 319 8 327 Expected return on plan assets — (45) (45) Net amortization of unrecognized prior service credit — (16) (16) Net amortization of actuarial losses 10 86 96 Net periodic defined benefit pension cost $ 329 $ 797 $ 1,126

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	May 01, 2021
Fair Value Disclosures [Abstract]
Schedule of fair value hierarchy for assets and liabilities measured at fair value on a recurring basis	The following table presents the fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis (in thousands): Fair Value Measurements Fair Value Measurements at May 1, 2021 at Jan 30, 2021 Recurring Fair Value Measures Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Foreign exchange currency contracts $ — $ 353 $ — $ 353 $ — $ — $ — $ — Total $ — $ 353 $ — $ 353 $ — $ — $ — $ — Liabilities: Foreign exchange currency contracts $ — $ 2,580 $ — $ 2,580 $ — $ 4,481 $ — $ 4,481 Interest rate swap — 665 — 665 — 999 — 999 Deferred compensation obligations — 16,845 — 16,845 — 15,612 — 15,612 Total $ — 20,090 $ — $ 20,090 $ — $ 21,092 $ — $ 21,092

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	3 Months Ended
	May 01, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of fair value of derivative instruments in the condensed consolidated balance sheets	The fair value of derivative instruments in the condensed consolidated balance sheets is as follows (in thousands): Derivative Balance Sheet Location Fair Value at May 1, 2021 Fair Value at Jan 30, 2021 ASSETS: Derivatives designated as hedging instruments: Cash flow hedges: Foreign exchange currency contracts Other current assets/Other assets $ 353 $ — Total $ 353 $ — LIABILITIES: Derivatives designated as hedging instruments: Cash flow hedges: Foreign exchange currency contracts Accrued expenses $ 1,663 $ 3,326 Interest rate swap Other long-term liabilities 665 999 Total derivatives designated as hedging instruments 2,328 4,325 Derivatives not designated as hedging instruments: Foreign exchange currency contracts Accrued expenses 917 1,155 Total $ 3,245 $ 5,480
Summary of gains (losses) before taxes recognized on the derivative instruments designated as cash flow hedges in OCI and net earnings (loss)	The following table summarizes the gains (losses) before taxes recognized on the derivative instruments designated as cash flow hedges in OCI and net earnings (loss) for the three months ended May 1, 2021 and May 2, 2020 (in thousands): Gains (Losses) Recognized in OCI Location of Gains (Losses) Reclassified from Accumulated OCI into Earnings Gains (Losses) Reclassified from Accumulated OCI into Earnings Three Months Ended Three Months Ended May 1, 2021 May 2, 2020 May 1, 2021 May 2, 2020 Derivatives designated as cash flow hedges: Foreign exchange currency contracts $ 1,511 $ 4,410 Cost of product sales $ (462) $ 1,991 Interest rate swap 270 (874) Interest expense 64 (3)
Summary of net after-tax derivative activity recorded in accumulated other comprehensive income (loss)	The following table summarizes net after-tax derivative activity recorded in accumulated other comprehensive income (loss) (in thousands): Three Months Ended May 1, 2021 May 2, 2020 Beginning balance gain (loss) $ (4,876) $ 6,300 Net gains from changes in cash flow hedges 1,553 3,180 Net (gains) losses reclassified into earnings (loss) 460 (1,769) Ending balance gain (loss) $ (2,863) $ 7,711
Summary of gains (losses) before taxes recognized on the derivative instruments not designated as hedging instruments in other income (expense)	The following table summarizes the gains (losses) before taxes recognized on the derivative instruments not designated as hedging instruments in other income (expense) (in thousands): Location of Gain Recognized in Earnings (Loss) Gain Recognized in Earnings (Loss) Three Months Ended May 1, 2021 May 2, 2020 Derivatives not designated as hedging instruments: Foreign exchange currency contracts Other income (expense) $ 71 $ 1,088

Basis of Presentation (Details)

Basis of Presentation (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	May 01, 2021	May 02, 2020	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Fiscal period duration				364 days	364 days
Percentage of total accounts receivable that are insured or supported by bank guarantees or letters of credit	48.00%
Scenario, Forecast
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Fiscal period duration			364 days
Europe
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of total accounts receivable that are insured or supported by bank guarantees or letters of credit	60.00%
Royalties
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net royalties revenue recognized	$ 3.5	$ 3.6
Royalties | Accrued expenses
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Current deferred royalties	6.1			$ 6.6
Royalties | Other long-term liabilities
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Noncurrent deferred royalties	$ 15.9			$ 17.1
Minimum | Royalties
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
License agreement term	3 years
Maximum | Royalties
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
License agreement term	15 years

Lease Accounting - Narrative (D

Lease Accounting - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	May 01, 2021	May 02, 2020
Lessee, Lease, Description [Line Items]
Lease not yet commenced	$ 5
North America and Europe
Lessee, Lease, Description [Line Items]
Impairment on operating lease right-of-use assets		$ 28.2
Retail Store | Minimum
Lessee, Lease, Description [Line Items]
Percentage of annual sales volume used for incremental rent on certain retail location leases	3.00%
Retail Store | Maximum
Lessee, Lease, Description [Line Items]
Percentage of annual sales volume used for incremental rent on certain retail location leases	28.00%
Retail Concession | Weighted Average
Lessee, Lease, Description [Line Items]
Percentage of annual sales volume used for incremental rent on certain retail location leases	33.00%

Lease Accounting - Lease Assets

Lease Accounting - Lease Assets and Liabilities (Details) - USD ($) $ in Thousands	May 01, 2021	Jan. 30, 2021
Assets
Operating	$ 738,544	$ 764,804
Finance	21,405	20,595
Total lease assets	759,949	785,399
Current:
Operating	224,676	222,800
Finance	4,551	4,698
Noncurrent:
Operating	632,574	662,657
Finance	17,870	17,365
Total lease liabilities	$ 879,671	$ 907,520

Lease Accounting - Lease Cost (

Lease Accounting - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	May 01, 2021	May 02, 2020
Lease costs
Net (gains) losses on lease modifications	$ (2,145)	$ 456
Total lease costs	70,223	79,114
COVID-19 | Europe
Lease costs
Rent concessions from landlord	6,100	2,700
Cost of product sales
Lease costs
Operating lease costs	46,684	55,369
Amortization of leased assets	11	12
Variable lease costs	15,739	14,348
Short-term lease costs	105	239
Selling, general and administrative expenses
Lease costs
Operating lease costs	6,357	5,176
Amortization of leased assets	1,361	864
Variable lease costs	574	579
Short-term lease costs	1,171	1,789
Net (gains) losses on lease modifications
Lease costs
Net (gains) losses on lease modifications	(2,145)	456
Interest expense
Lease costs
Interest on lease liabilities	$ 366	$ 282

Lease Accounting - Maturity of

Lease Accounting - Maturity of Lease Liabilities (Details) - USD ($) $ in Thousands	May 01, 2021	Jan. 30, 2021
Finance Leases
2022	$ 4,294
2023	5,974
2024	5,887
2025	3,946
2026	3,034
After 2026	3,158
Total lease payments	26,293
Less: Interest	3,872
Finance lease obligations	22,421	$ 22,063
Total
2022	203,774
2023	195,113
2024	159,580
2025	114,827
2026	83,420
After 2026	210,240
Total lease payments	966,954
Less: Interest	87,283
Total lease liabilities	879,671	$ 907,520
Non Related Parties
Lessee, Lease, Description [Line Items]
2022	193,515
2023	181,879
2024	146,015
2025	103,560
2026	73,458
After 2026	170,672
Total lease payments	869,099
Less: Interest	71,415
Present value of lease liabilities	797,684
Related Parties
Lessee, Lease, Description [Line Items]
2022	5,965
2023	7,260
2024	7,678
2025	7,321
2026	6,928
After 2026	36,410
Total lease payments	71,562
Less: Interest	11,996
Present value of lease liabilities	$ 59,566

Lease Accounting - Lease Term a

Lease Accounting - Lease Term and Discount Rate (Details)	May 01, 2021
Weighted-average remaining lease term
Operating leases	6 years 1 month 6 days
Finance leases	4 years 9 months 18 days
Weighted-average discount rate
Operating leases	3.50%
Finance leases	6.80%

Lease Accounting - Other Inform

Lease Accounting - Other Information (Details) - USD ($) $ in Thousands	3 Months Ended
	May 01, 2021	May 02, 2020
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$ 53,428	$ 32,618
New operating ROU assets obtained in exchange for lease liabilities	$ 22,596	$ 16,332

Earnings (Loss) per Share - Bas

Earnings (Loss) per Share - Basic and Diluted EPS (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	May 01, 2021	May 02, 2020
Earnings Per Share [Abstract]
Net earnings (loss) attributable to Guess?, Inc.	$ 12,006	$ (157,666)
Less net earnings attributable to nonvested restricted stockholders	130	0
Net earnings (loss) attributable to common stockholders	$ 11,876	$ (157,666)
Weighted average common shares used in basic computations (in shares)	64,035,000	65,715,000
Effect of dilutive securities:
Stock options and restricted stock units (in shares)	1,905,000	0
Weighted average common shares used in diluted computations (in shares)	65,940,000	65,715,000
Net earnings (loss) per common share attributable to common stockholders:
Basic (in dollars per share)	$ 0.19	$ (2.40)
Diluted (in dollars per share)	$ 0.18	$ (2.40)
Antidilutive securities excluded from computation of earnings (loss) per share
Antidilutive equity awards excluded from computation of diluted weighted average common shares (in shares)	390,243	3,157,824
Potentially Dilutive Shares
Antidilutive securities excluded from computation of earnings (loss) per share
Antidilutive equity awards excluded from computation of diluted weighted average common shares (in shares)		484,674

Earnings (Loss) per Share - Oth

Earnings (Loss) per Share - Other Narrative (Details) - $ / shares	1 Months Ended	3 Months Ended
	Apr. 30, 2019	May 01, 2021	May 02, 2020
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive equity awards excluded from computation of diluted weighted average common shares (in shares)		390,243	3,157,824
Conversion price of convertible senior notes (in dollars per share)	$ 25.78	$ 25.78
Warrants outstanding (in shares)	11,600,000	11,600,000
Strike price of warrants (in dollars per share)	$ 46.88	$ 46.88
Performance-based units
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Performance or market awards excluded from computation of EPS (in shares)		0	227,729

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details) $ in Millions	May 01, 2021USD ($)
Share Repurchase Program
Class of Stock [Line Items]
Remaining purchase amount authorized	$ 47.8

Stockholders' Equity - Cash Div

Stockholders' Equity - Cash Dividend Declared Per Share (Details) - $ / shares	3 Months Ended
	May 01, 2021	Oct. 31, 2020	May 02, 2020
Equity [Abstract]
Dividends per share (in dollars per share)	$ 0.1125	$ 0.1125	$ 0

Stockholders' Equity - Accumula

Stockholders' Equity - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	May 01, 2021	May 02, 2020
Accumulated other comprehensive income (loss), net of tax
Beginning balance	$ 565,580	$ 661,347
Ending balance	577,193	486,789
Foreign Currency Translation Adjustment
Accumulated other comprehensive income (loss), net of tax
Beginning balance	(105,970)	(137,289)
Gains (losses) arising during the period	(2,433)	(14,873)
Reclassification to net earnings for losses realized	0	0
Net other comprehensive income (loss)	(2,433)	(14,873)
Ending balance	(108,403)	(152,162)
Derivative Financial Instruments Designated as Cash Flow Hedges
Accumulated other comprehensive income (loss), net of tax
Beginning balance	(4,876)	6,300
Gains (losses) arising during the period	1,553	3,180
Reclassification to net earnings for losses realized	460	(1,769)
Net other comprehensive income (loss)	2,013	1,411
Ending balance	(2,863)	7,711
Defined Benefit Plans
Accumulated other comprehensive income (loss), net of tax
Beginning balance	(9,829)	(8,921)
Gains (losses) arising during the period	116	(1)
Reclassification to net earnings for losses realized	77	71
Net other comprehensive income (loss)	193	70
Ending balance	(9,636)	(8,851)
Accumulated Other Comprehensive Loss
Accumulated other comprehensive income (loss), net of tax
Beginning balance	(120,675)	(139,910)
Gains (losses) arising during the period	(764)	(11,694)
Reclassification to net earnings for losses realized	537	(1,698)
Net other comprehensive income (loss)	(227)	(13,392)
Ending balance	$ (120,902)	$ (153,302)

Stockholders' Equity - Reclassi

Stockholders' Equity - Reclassifications Out of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	May 01, 2021	May 02, 2020
Reclassifications out of accumulated other comprehensive income (loss) to net earnings (loss)
Cost of product sales	$ 308,444	$ 226,022
Interest expense	5,926	5,462
Income tax expense (benefit)	5,455	(26,381)
Net earnings (loss) attributable to Guess, Inc.	(12,006)	157,666
Other income (expense), net	2,701	19,580
Reclassifications out of accumulated other comprehensive income (loss)
Reclassifications out of accumulated other comprehensive income (loss) to net earnings (loss)
Net earnings (loss) attributable to Guess, Inc.	537	(1,698)
Derivative Financial Instruments Designated as Cash Flow Hedges | Reclassifications out of accumulated other comprehensive income (loss)
Reclassifications out of accumulated other comprehensive income (loss) to net earnings (loss)
Cost of product sales	462	(1,991)
Interest expense	(64)	3
Income tax expense (benefit)	62	219
Net earnings (loss) attributable to Guess, Inc.	460	(1,769)
Net Actuarial Loss Amortization | Reclassifications out of accumulated other comprehensive income (loss)
Reclassifications out of accumulated other comprehensive income (loss) to net earnings (loss)
Other income (expense), net	105	96
Prior Service Credit Amortization | Reclassifications out of accumulated other comprehensive income (loss)
Reclassifications out of accumulated other comprehensive income (loss) to net earnings (loss)
Other income (expense), net	(17)	(16)
Defined Benefit Plans | Reclassifications out of accumulated other comprehensive income (loss)
Reclassifications out of accumulated other comprehensive income (loss) to net earnings (loss)
Income tax expense (benefit)	(11)	(9)
Net earnings (loss) attributable to Guess, Inc.	$ 77	$ 71

Accounts Receivable (Details)

Accounts Receivable (Details) - USD ($) $ in Thousands	May 01, 2021	Jan. 30, 2021
Accounts receivable
Accounts receivable, gross	$ 320,903	$ 328,347
Less allowances	14,606	14,200
Accounts receivable, net	306,297	314,147
Trade
Accounts receivable
Accounts receivable, gross	283,787	288,782
Royalty
Accounts receivable
Accounts receivable, gross	20,187	20,565
Other
Accounts receivable
Accounts receivable, gross	$ 16,929	$ 19,000

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	May 01, 2021	Jan. 30, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 217	$ 53
Work in progress	24	43
Finished goods	404,610	389,048
Inventories	404,851	389,144
Allowance to write down inventories to the lower of cost or net realizable value	$ 36,900	$ 35,500

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	May 01, 2021	May 02, 2020	Jan. 30, 2021
Income Tax Contingency [Line Items]
Effective income tax rate (as a percent)	29.80%	14.10%
Tax benefit due to deferred tax rate change related to net operating loss carrybacks		$ 11.8
Aggregate accruals for uncertain tax positions, including penalties and interest	$ 40.8		$ 40
Valuation allowance due to cumulative net operating losses		$ 3.7
Other long-term liabilities
Income Tax Contingency [Line Items]
Transition tax liability	$ 19.9		$ 19.9

Segment Information - Net Reven

Segment Information - Net Revenue and Earnings (Loss) from Operations (Details) $ in Thousands	3 Months Ended
	May 01, 2021USD ($)segment	May 02, 2020USD ($)
Segment Reporting Information
Number of reportable segments | segment	5
Net revenue	$ 520,002	$ 260,251
Earnings (loss) from operations	26,578	(162,487)
Asset impairment charges	(441)	(52,972)
Net gains on lease terminations	2,145	(456)
Operating Segments
Segment Reporting Information
Earnings (loss) from operations	53,650	(92,138)
Corporate overhead
Segment Reporting Information
Earnings (loss) from operations	(28,776)	(16,921)
Reconciling items
Segment Reporting Information
Asset impairment charges	(441)	(52,972)
Net gains on lease terminations	2,145	(456)
Americas Retail
Segment Reporting Information
Net revenue	155,535	74,584
Americas Retail | Operating Segments
Segment Reporting Information
Earnings (loss) from operations	20,274	(36,673)
Americas Wholesale
Segment Reporting Information
Net revenue	45,430	25,875
Americas Wholesale | Operating Segments
Segment Reporting Information
Earnings (loss) from operations	11,555	1,624
Europe
Segment Reporting Information
Net revenue	241,852	106,473
Europe | Operating Segments
Segment Reporting Information
Earnings (loss) from operations	4,198	(44,406)
Asia
Segment Reporting Information
Net revenue	55,660	40,385
Asia | Operating Segments
Segment Reporting Information
Earnings (loss) from operations	(1,808)	(22,777)
Licensing
Segment Reporting Information
Net revenue	21,525	12,934
Licensing | Operating Segments
Segment Reporting Information
Earnings (loss) from operations	$ 19,431	$ 10,094

Segment Information - Net Rev_2

Segment Information - Net Revenue by Location (Details) - USD ($) $ in Thousands	3 Months Ended
	May 01, 2021	May 02, 2020
Segment Reporting Information
Net revenue	$ 520,002	$ 260,251
Product sales
Segment Reporting Information
Net revenue	498,477	247,317
Product sales | U.S.
Segment Reporting Information
Net revenue	157,066	69,465
Product sales | Italy
Segment Reporting Information
Net revenue	47,553	19,352
Product sales | Germany
Segment Reporting Information
Net revenue	34,678	11,362
Product sales | South Korea
Segment Reporting Information
Net revenue	27,809	21,224
Product sales | Canada
Segment Reporting Information
Net revenue	26,640	16,677
Product sales | Spain
Segment Reporting Information
Net revenue	25,507	12,996
Product sales | Other foreign countries
Segment Reporting Information
Net revenue	179,224	96,241
Net royalties
Segment Reporting Information
Net revenue	$ 21,525	$ 12,934

Borrowings and Finance Lease _3

Borrowings and Finance Lease Obligations (Details) - USD ($)	Feb. 16, 2016	May 01, 2021	Jan. 30, 2021	Apr. 30, 2019	Feb. 03, 2018
Debt Instrument [Line Items]
Term loans		$ 55,951,000	$ 56,765,000
Finance lease obligations		22,421,000	22,063,000
Mortgage debt		18,346,000	18,507,000
Borrowings under credit facilities		5,097,000	7,332,000
Other		2,826,000	2,597,000
Less current installments		17,917,000	38,710,000
Term Loans and Mortgage Debt
Mortgage debt		18,346,000	18,507,000
Finance Lease
Finance lease obligations		22,421,000	22,063,000
Credit Facilities
Credit Facility, outstanding amount		5,097,000	7,332,000
Europe | Foreign line of credit
Debt Instrument [Line Items]
Borrowings under credit facilities		0
Credit Facilities
Letters of credit outstanding		0
Credit Facility, outstanding amount		0
Remaining borrowing capacity		$ 113,500,000
Europe | Foreign line of credit | Minimum
Term Loans and Mortgage Debt
Interest rate (as a percent)		1.05%
Europe | Foreign line of credit | Maximum
Term Loans and Mortgage Debt
Interest rate (as a percent)		1.10%
China | Foreign line of credit
Debt Instrument [Line Items]
Borrowings under credit facilities		$ 5,100,000	7,300,000
Credit Facilities
Maximum borrowing capacity		30,000,000
Credit Facility, outstanding amount		5,100,000	7,300,000
Long-term debt and finance lease liabilities, excluding convertible senior notes
Debt Instrument [Line Items]
Total debt and finance lease obligations		104,641,000	107,264,000
Less current installments		17,917,000	38,710,000
Long-term debt and finance lease obligations		86,724,000	68,554,000
Term Loans | Europe
Debt Instrument [Line Items]
Term loans		$ 56,000,000
Term Loans | Europe | Minimum
Term Loans and Mortgage Debt
Debt maturity period (in years)		1 year
Interest rate (as a percent)		0.50%
Term Loans | Europe | Maximum
Term Loans and Mortgage Debt
Debt maturity period (in years)		5 years
Interest rate (as a percent)		2.20%
Finance lease | Equipment | Europe
Debt Instrument [Line Items]
Finance lease obligations		$ 19,200,000	18,400,000
Finance Lease
Finance lease obligations		19,200,000	18,400,000
Finance lease | Equipment | Netherlands
Finance Lease
Effective interest rate on finance lease obligations					6.00%
Finance lease | Computer hardware and software
Debt Instrument [Line Items]
Finance lease obligations		3,200,000	3,700,000
Finance Lease
Finance lease obligations		3,200,000	3,700,000
Credit Facility
Debt Instrument [Line Items]
Borrowings under credit facilities		0
Credit Facilities
Credit Facility, outstanding amount		$ 0
Percentage of borrowings exceeding borrowing base that require the Company to comply with a fixed charge coverage ratio on a trailing four-quarter basis		80.00%
Credit Facility | Revolving Credit Facility
Credit Facilities
Maximum borrowing capacity			120,000,000
Current borrowing capacity		$ 109,000,000
Credit Facility | Standby letters of credit
Credit Facilities
Letters of credit outstanding		2,100,000
Credit Facility | Documentary letters of credit
Credit Facilities
Letters of credit outstanding		0
Credit Facility | Accordion feature
Credit Facilities
Maximum borrowing capacity		180,000,000
Credit Facility | Canada | Foreign line of credit
Credit Facilities
Maximum borrowing capacity			20,000,000
Mortgage debt | Building [Member] | U.S.
Debt Instrument [Line Items]
Mortgage debt	$ 21,500,000
Term Loans and Mortgage Debt
Debt maturity period (in years)	10 years
Mortgage debt	$ 21,500,000
Senior Notes | 2.00% Convertible Senior Notes Due 2024
Term Loans and Mortgage Debt
Interest rate (as a percent)				2.00%
Debt issuance costs		$ 2,550,000	$ 2,763,000

Convertible Senior Notes and _3

Convertible Senior Notes and Related Transactions - Narrative (Details) $ / shares in Units, shares in Millions	1 Months Ended	3 Months Ended
	Apr. 30, 2019USD ($)$ / sharesshares	May 01, 2021USD ($)$ / sharesshares	May 02, 2020USD ($)	Jan. 30, 2021USD ($)
Debt Instrument [Line Items]
Amortization of debt discount		$ 2,781,000	$ 2,599,000
Amortization of debt issuance costs		$ 362,000	307,000
Option to purchase, number of shares (in shares) | shares	11.6
Conversion price of convertible senior notes (in dollars per share) | $ / shares	$ 25.78	$ 25.78
Convertible note hedge cost	$ 61,000,000
Warrants outstanding (in shares) | shares	11.6	11.6
Strike price of warrants (in dollars per share) | $ / shares	$ 46.88	$ 46.88
Proceeds from issuance of warrants	$ 28,100,000
Deferred tax liability		$ 8,800,000		$ 8,800,000
Deferred tax asset		9,700,000		9,700,000
Senior Notes | 2.00% Convertible Senior Notes Due 2024
Debt Instrument [Line Items]
Interest rate	2.00%
Convertible debt issued	$ 300,000,000
Conversion ratio	0.0387879000
Conversion price (in dollars per share) | $ / shares	$ 25.78
Amortization of debt discount		2,800,000	$ 2,600,000
Senior Notes | 2.00% Convertible Senior Notes Due 2024 | Level 2
Debt Instrument [Line Items]
Fair value of convertible senior notes		$ 339,500,000		$ 303,500,000
Senior Notes | 2.00% Convertible Senior Notes Due 2024 | Initial Purchasers
Debt Instrument [Line Items]
Debt issuance costs	$ 3,800,000
Senior Notes | 2.00% Convertible Senior Notes Due 2024 | Third Party Offerers
Debt Instrument [Line Items]
Debt issuance costs	$ 1,500,000

Convertible Senior Notes and _4

Convertible Senior Notes and Related Transactions - Components of Debt (Details) - Senior Notes - 2.00% Convertible Senior Notes Due 2024 - USD ($) $ in Thousands	May 01, 2021	Jan. 30, 2021
Debt Instrument [Line Items]
Principal	$ 300,000	$ 300,000
Unamortized debt discount	(35,841)	(38,623)
Unamortized issuance costs	(2,550)	(2,763)
Net carrying amount	261,609	258,614
Equity component, net	$ 42,320	$ 42,320

Share-Based Compensation - Shar

Share-Based Compensation - Share-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	May 01, 2021	May 02, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 4,060	$ 5,786
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	907	695
Stock awards/units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	3,073	4,926
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 80	$ 165

Share-Based Compensation Share-

Share-Based Compensation Share-Based Compensation - Narrative (Details) - USD ($) $ in Millions	Apr. 13, 2021	May 01, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to nonvested stock options		$ 7.1
Weighted average period for recognition of unrecognized compensation cost (in years/months/days)		1 year 8 months 12 days
Stock awards/units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to nonvested stock awards/units		$ 22.5
Equity instruments granted (in shares)	367,440
Performance-based units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity instruments granted (in shares)		0
Performance-based units | Minimum | Vesting, Tranches After Initial Vesting Period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		2 years
Performance-based units | Maximum | Vesting, Tranches After Initial Vesting Period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		3 years
Target performance units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		3 years
Target performance units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target vesting percentage		0.00%
Target performance units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target vesting percentage		200.00%
Market-based units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		3 years
Market-based units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target vesting percentage		0.00%
Market-based units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target vesting percentage		150.00%

Share-Based Compensation - Equi

Share-Based Compensation - Equity Instrument Activity (Details)	3 Months Ended
	May 01, 2021$ / sharesshares
Performance-based units
Number of Units
Balance at beginning of period (in shares) | shares	769,632
Granted (in shares) | shares	0
Vested (in shares) | shares	(166,547)
Forfeited (in shares) | shares	(186,714)
Balance at end of period (in shares) | shares	416,371
Weighted Average Grant Date Fair Value
Balance at beginning of period (in dollars per share) | $ / shares	$ 16.15
Granted (in dollars per share) | $ / shares	0
Vested (in dollars per share) | $ / shares	14.06
Forfeited (in dollars per share) | $ / shares	21.83
Balance at end of period (in dollars per share) | $ / shares	$ 14.45
Market-based units
Number of Units
Balance at beginning of period (in shares) | shares	509,012
Granted (in shares) | shares	41,955
Vested (in shares) | shares	(125,822)
Balance at end of period (in shares) | shares	425,145
Weighted Average Grant Date Fair Value
Balance at beginning of period (in dollars per share) | $ / shares	$ 8.67
Granted (in dollars per share) | $ / shares	20.28
Vested (in dollars per share) | $ / shares	20.28
Balance at end of period (in dollars per share) | $ / shares	$ 6.38

Related Party Transactions (Det

Related Party Transactions (Details) $ in Millions	3 Months Ended
	May 01, 2021USD ($)lease	May 02, 2020USD ($)	Jan. 30, 2021USD ($)	Dec. 31, 2020USD ($)	Sep. 30, 2020
Related party leases | France
Related Party Transactions
Renewal option (in years)	9 years
Variable lease costs	$ 0.9
Marciano Entities
Related Party Transactions
Number of leases under related party lease agreements | lease	4
Marciano Entities | Privately-Held Men's Footwear Company
Related Party Transactions
Minority interest					30.00%
Ownership percentage held by related party					45.00%
Line of credit provided				$ 2
Interest rate for line of credit provided (in percent)				2.75%
Outstanding borrowings on line of credit provided	$ 0.2		$ 0.2
Marciano Entities | Payments for aircraft charter
Related Party Transactions
Payments under related party transactions	0.9	$ 0.2
Marciano Trusts | Related party leases
Related Party Transactions
Expenses under related party arrangement	$ 2.2	$ 1.3

Commitments and Contingencies -

Commitments and Contingencies - Investment Commitments (Details) - May 01, 2021 € in Millions, $ in Millions	EUR (€)	USD ($)
Private equity fund
Investment commitments
Unfunded commitment to invest in private equity fund	€ 2.3	$ 2.8

Commitments and Contingencies_2

Commitments and Contingencies - Legal and Other Proceedings (Details) - 3 months ended May 01, 2021 - Italy - Europe - Customs tax audit and appeals € in Millions, $ in Millions	EUR (€)subsidiary	USD ($)subsidiary	USD ($)
Pending litigation
Loss Contingencies [Line Items]
Number of subsidiaries under audit by the Italian Customs Agency	1	1
Customs tax assessments including potential penalties and interest	€ 9.8		$ 11.8
Appealed customs tax assessments	9.7	$ 11.7
Amount with appealed ruling in favor of the Company	8.5	10.2
Monetary damages awarded by court to the plaintiff	1.2	1.4
Pending litigation | Italian Supreme Court
Loss Contingencies [Line Items]
Amount being reconsidered in lower court	1.1	1.3
Settled litigation | Italian Supreme Court
Loss Contingencies [Line Items]
Amount with appealed ruling in favor of the Company	€ 0.4	$ 0.5

Commitments and Contingencies_3

Commitments and Contingencies - Redeemable Noncontrolling Interests (Details) - USD ($) $ in Thousands	May 01, 2021	Jan. 30, 2021	May 02, 2020	Feb. 01, 2020
Loss Contingencies [Line Items]
Redeemable noncontrolling interests	$ 3,949	$ 3,920	$ 3,934	$ 4,731
Guess Brazil
Loss Contingencies [Line Items]
Ownership percentage	40.00%
Guess CIS
Loss Contingencies [Line Items]
Ownership percentage by parent	30.00%
Guess Brazil
Loss Contingencies [Line Items]
Redeemable noncontrolling interests	$ 900	900
Guess CIS
Loss Contingencies [Line Items]
Redeemable noncontrolling interests	$ 3,000	$ 3,000

Commitments and Contingencies_4

Commitments and Contingencies - Reconciliation of Redeemable Noncontrolling Interest (Details) - USD ($) $ in Thousands	3 Months Ended
	May 01, 2021	May 02, 2020
Redeemable Noncontrolling Interest [Roll Forward]
Beginning balance	$ 3,920	$ 4,731
Foreign currency translation adjustment	29	(797)
Ending balance	$ 3,949	$ 3,934

Defined Benefit Plans (Details)

Defined Benefit Plans (Details) - USD ($) $ in Thousands	3 Months Ended
	May 01, 2021	May 02, 2020	Jan. 30, 2021
SERP
Defined Benefit Plans
SERP benefit payments	$ 500	$ 600
Components of net periodic defined benefit pension cost
Service cost	0	0
Interest cost	289	319
Expected return on plan assets	0	0
Net amortization of unrecognized prior service credit	0	0
Net amortization of actuarial losses	20	10
Net periodic defined benefit pension cost	309	329
SERP | Other income (expense)
Defined Benefit Plans
Gain (loss) as a result of changes in value of the insurance policy investments, included in other income (expense)		(3,100)
Pension
Components of net periodic defined benefit pension cost
Service cost	790	764
Interest cost	308	327
Expected return on plan assets	(52)	(45)
Net amortization of unrecognized prior service credit	(17)	(16)
Net amortization of actuarial losses	105	96
Net periodic defined benefit pension cost	1,134	1,126
Pension | Foreign Plan
Defined Benefit Plans
Projected benefit obligation	40,600		$ 41,500
Plan assets at fair value	34,300		35,000
Components of net periodic defined benefit pension cost
Service cost	790	764
Interest cost	19	8
Expected return on plan assets	(52)	(45)
Net amortization of unrecognized prior service credit	(17)	(16)
Net amortization of actuarial losses	85	86
Net periodic defined benefit pension cost	825	$ 797
Other assets | SERP
Defined Benefit Plans
Cash surrender values of the insurance policies held in a rabbi trust	71,600		72,100
Accrued expenses and other long-term liabilities | SERP
Defined Benefit Plans
Projected benefit obligation	52,100		52,300
Other long-term liabilities | Pension | Foreign Plan
Defined Benefit Plans
Net liability	$ 6,300		$ 6,400

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value Hierarchy for Assets and Liabilities (Details) - Assets and liabilities measured at fair value on a recurring basis - USD ($) $ in Thousands	May 01, 2021	Jan. 30, 2021
Assets:
Total Assets	$ 353	$ 0
Liabilities:
Deferred compensation obligations	16,845	15,612
Total Liabilities	20,090	21,092
Level 1
Assets:
Total Assets	0	0
Liabilities:
Deferred compensation obligations	0	0
Total Liabilities	0	0
Level 2
Assets:
Total Assets	353	0
Liabilities:
Deferred compensation obligations	16,845	15,612
Total Liabilities	20,090	21,092
Level 3
Assets:
Total Assets	0	0
Liabilities:
Deferred compensation obligations	0	0
Total Liabilities	0	0
Foreign exchange currency contracts
Assets:
Derivative assets	353	0
Liabilities:
Derivative liabilities	2,580	4,481
Foreign exchange currency contracts | Level 1
Assets:
Derivative assets	0	0
Liabilities:
Derivative liabilities	0	0
Foreign exchange currency contracts | Level 2
Assets:
Derivative assets	353	0
Liabilities:
Derivative liabilities	2,580	4,481
Foreign exchange currency contracts | Level 3
Assets:
Derivative assets	0	0
Liabilities:
Derivative liabilities	0	0
Interest rate swap
Liabilities:
Derivative liabilities	665	999
Interest rate swap | Level 1
Liabilities:
Derivative liabilities	0	0
Interest rate swap | Level 2
Liabilities:
Derivative liabilities	665	999
Interest rate swap | Level 3
Liabilities:
Derivative liabilities	$ 0	$ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) $ in Thousands, € in Millions	3 Months Ended
	May 01, 2021USD ($)	May 02, 2020USD ($)	May 01, 2021EUR (€)	Jan. 30, 2021USD ($)	Jan. 30, 2021EUR (€)
Asset impairment charges
Asset impairment charges	$ 441	$ 52,972
North America and Europe
Asset impairment charges
Impairment on operating lease right-of-use assets		28,200
North America, Europe and Asia | Retail locations
Asset impairment charges
Impairment of property and equipment	400	$ 24,800
Private equity fund
Investment in private equity fund
Unfunded commitment to invest in private equity fund	2,800		€ 2.3
Fair Value Measured at Net Asset Value Per Share | Private equity fund
Investment in private equity fund
Unfunded commitment to invest in private equity fund	2,800		2.3
Fair Value Measured at Net Asset Value Per Share | Private equity fund | Other assets
Investment in private equity fund
Alternative investment	$ 3,000		€ 2.5	$ 3,000	€ 2.4

Derivative Financial Instrume_3

Derivative Financial Instruments - Fair Value of Derivatives (Details) - USD ($) $ in Thousands	May 01, 2021	Jan. 30, 2021
ASSETS:
Derivatives, assets	$ 353	$ 0
LIABILITIES:
Derivatives, liabilities	3,245	5,480
Derivatives designated as hedging instruments | Cash flow hedges
LIABILITIES:
Derivatives, liabilities	2,328	4,325
Derivatives designated as hedging instruments | Foreign exchange currency contracts | Other current assets/Other assets | Cash flow hedges
ASSETS:
Derivatives, assets	353	0
Derivatives designated as hedging instruments | Foreign exchange currency contracts | Accrued expenses | Cash flow hedges
LIABILITIES:
Derivatives, liabilities	1,663	3,326
Derivatives designated as hedging instruments | Interest rate swap | Other long-term liabilities | Cash flow hedges
LIABILITIES:
Derivatives, liabilities	665	999
Derivatives not designated as hedging instruments | Foreign exchange currency contracts | Accrued expenses
LIABILITIES:
Derivatives, liabilities	$ 917	$ 1,155

Derivative Financial Instrume_4

Derivative Financial Instruments - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	May 01, 2021	Jan. 30, 2021
Derivative [Line Items]
Interest rate swap cash flow hedge unrealized loss to be recognized in interest expense after the following 12 months	$ 0.5
Derivatives not designated as hedging instruments | Euro Member Countries, Euro
Derivative [Line Items]
U.S. dollar forward contracts outstanding, maximum remaining maturity period (in months)	1 month
Cash flow hedges | Europe | Derivatives designated as hedging instruments
Derivative [Line Items]
U.S. dollar forward contracts outstanding, maximum remaining maturity period (in months)	15 months
Foreign exchange currency contracts | Derivatives not designated as hedging instruments | Euro Member Countries, Euro
Derivative [Line Items]
Notional amount of derivative outstanding	$ 19	$ 19
Foreign exchange currency contracts | Cash flow hedges | Europe | Derivatives designated as hedging instruments
Derivative [Line Items]
Total notional amount of derivatives purchased	40
Notional amount of derivative outstanding	126	$ 100
Foreign exchange currency contracts | Derivative Financial Instruments Designated as Cash Flow Hedges
Derivative [Line Items]
Foreign exchange currency cash flow hedge unrealized loss to be recognized in cost of product sales over the following 12 months	$ (2.3)

Derivative Financial Instrume_5

Derivative Financial Instruments - Gains (Losses) Before Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	May 01, 2021	May 02, 2020
Gains (losses) before taxes recognized on the derivative instruments designated as cash flow hedges in OCI and net earnings (loss)
Gains (Losses) Recognized in OCI	$ 1,781	$ 3,536
Gains (Losses) Reclassified from Accumulated OCI into Earnings	(398)	1,988
Foreign exchange currency contracts | Cost of product sales
Gains (losses) before taxes recognized on the derivative instruments designated as cash flow hedges in OCI and net earnings (loss)
Gains (Losses) Recognized in OCI	1,511	4,410
Gains (Losses) Reclassified from Accumulated OCI into Earnings	(462)	1,991
Interest rate swap | Interest expense
Gains (losses) before taxes recognized on the derivative instruments designated as cash flow hedges in OCI and net earnings (loss)
Gains (Losses) Recognized in OCI	270	(874)
Gains (Losses) Reclassified from Accumulated OCI into Earnings	$ 64	$ (3)

Derivative Financial Instrume_6

Derivative Financial Instruments - Derivative Activity in AOCI (Details) - USD ($) $ in Thousands	3 Months Ended
	May 01, 2021	May 02, 2020
Accumulated Other Comprehensive Income, Derivatives Qualifying as Hedges, Net of Tax [Roll Forward]
Beginning balance	$ 565,580	$ 661,347
Ending balance	577,193	486,789
Derivative Financial Instruments Designated as Cash Flow Hedges
Accumulated Other Comprehensive Income, Derivatives Qualifying as Hedges, Net of Tax [Roll Forward]
Beginning balance	(4,876)	6,300
Net gains from changes in cash flow hedges	1,553	3,180
Net (gains) losses reclassified into earnings (loss)	460	(1,769)
Ending balance	(2,863)	7,711
Retained Earnings
Accumulated Other Comprehensive Income, Derivatives Qualifying as Hedges, Net of Tax [Roll Forward]
Beginning balance	1,034,823	1,130,409
Ending balance	1,039,581	973,006
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income, Derivatives Qualifying as Hedges, Net of Tax [Roll Forward]
Beginning balance	(120,675)	(139,910)
Ending balance	$ (120,902)	$ (153,302)

Derivative Financial Instrume_7

Derivative Financial Instruments - Derivative Instruments Not Designated as Hedging Instruments (Details) - USD ($) $ in Thousands	3 Months Ended
	May 01, 2021	May 02, 2020
Foreign exchange currency contracts | Other income (expense)
Derivatives not designated as hedging instruments:
Foreign exchange currency contracts	$ 71	$ 1,088

Subsequent Events (Details)

Subsequent Events (Details) - $ / shares	May 27, 2021	May 01, 2021	Oct. 31, 2020	May 02, 2020
Subsequent Event
Dividends per share (in dollars per share)		$ 0.1125	$ 0.1125	$ 0
Subsequent Event
Subsequent Event
Dividends per share (in dollars per share)	$ 0.1125