Exhibit 99.1
NEWS RELEASE
FOR IMMEDIATE RELEASE Contacts: Carlos Alberini
President & Chief Operating Officer
(213) 765-3582
Dennis R. Secor
SVP & Chief Financial Officer
(213) 765-3289
Joseph Teklits
Integrated Corporate Relations
(203) 682-8258
GUESS?, INC. RAISES FOURTH QUARTER 2006
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EPS GUIDANCE TO $0.91 - $0.93 FROM $0.65 - $0.67;
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INCREASES FISCAL YEAR 2006 EPS GUIDANCE TO $2.60 - $2.62
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LOS ANGELES, JAN. 18, 2007 - Guess?, Inc. (NYSE: GES) today raised its earnings
per share guidance for the fourth quarter ended December 31, 2006 to a range of
$0.91 to $0.93 compared to earnings per share of $0.57 in the fourth quarter of
2005. The Company raised its earnings per share guidance for the fiscal year
ended December 31, 2006 to a range of $2.60 to $2.62, compared to $1.31 per
share in 2005. Previous fourth quarter earnings guidance was $0.65 to $0.67 per
share, which would have resulted in fiscal year 2006 earnings per share of $2.34
to $2.36.
Strong performance in the Company's retail, licensing and wholesale segments
drove the improved operating results for the quarter. The Company's retail
segment exceeded previous expectations due to higher revenues coupled with
better gross margins resulting from more full-priced selling. Strong sales of
the Company's accessories drove higher than expected licensing revenues, and the
wholesale segment benefited from higher revenues and improved margins in the
period.
Paul Marciano, Chief Executive Officer, stated, "We are very pleased with the
momentum across all of our businesses and geographic regions of the world, which
reflects the strong global acceptance of our brand. Our strategy to execute a
diversified and balanced business continues to be our top priority, resulting in
profitable growth as we expand globally."
The Company plans to release its financial results for the fourth quarter and
fiscal year ended December 31, 2006 on February 14, 2007 and will address its
guidance for the current fiscal year at that time.
Guess?, Inc. designs, markets, distributes and licenses a lifestyle collection
of contemporary apparel, accessories and related consumer products. At December
31, 2006 the Company operated 336 retail stores in the United States and Canada.
The Company also distributes its products through better department and
specialty stores around the world. For more information about the Company,
please visit www.guessinc.com.
Except for historical information contained herein, certain matters discussed in
this press release, including statements concerning the Company's future
prospects and guidance for the fourth quarter and fiscal year of 2006, are
forward-looking statements that are made pursuant to the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995. Forward-looking
statements are only expectations, and involve known and unknown risks and
uncertainties, which may cause actual results in future periods to differ
materially from what is currently anticipated. Factors which may cause actual
results in future periods to differ materially from current expectations include
the completion of the review of the Company's fourth quarter and fiscal year
2006 financial statements. In addition to such factors, the economic and other
factors identified in the Company's most recent annual report on Form 10-K and
other filings with the Securities and Exchange Commission, including but not
limited to the risk factors discussed therein, could cause actual results to
differ materially from current expectations.
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