you, Good afternoon, everyone, Thank us thank today. and joining Fabrice. you for
Our performance together. result factors this quarter three harmoniously the is once working of again key
and our strong and unique our that power model all the diversified our highly makes First, second, culture business and place drives great empowered. focus Guess? where brand important distribution; global feel across and product continued decisions and to people third, momentum; our and long-term geographies work highly and entrepreneurial of categories, a awareness of accountable channels
and operating last increases and X%, revenue in margin and year's Wholesale expectations factors, of year's. XX%, the and And expectations our our which X% for with almost reporting business growth the our line our consistent with end with period these segments growth segments the delivered for U.S. performance Europe quarter, in also adjusted line high an last with was performance. Licensing, we are quarter beating one range results consistent Americas exceeding respectively. third with of pleased operating revenue We profit report higher our adjusted achieved guidance at to with our All revenue very X% in but three dollars
decline segment macroeconomic Americas Retail in a environment, amidst posted dynamic expected, revenues. As our a
we for thank I their invaluable contributions, effective run team's I management. that of been especially very period, has continue manage unwavering our teams control time and to ability during strong exemplary. pleased and delivering the During gross the Their are want to with this margin everyone performance. Paul factors performance can and and the business navigate uncertainty. cost to well, commitment global our
the QX on in U.S. from with year. grew for dollars Briefly of consistent operations revenues and results. earnings last $XX reached third million, touching Net adjusted segment X% quarter
a Our with of business into second the deceleration value, Wholesale partially quarter in trends. a traffic by Europe growth, our posted softer-than-expected of increase an customer performance unit but average in primarily growth increase direct-to-consumer from X%, X% delivered by a of revenue which solid stores business, in comp driven offset our retail
X% Our from in Europe reported earnings segment a decrease operating last year.
As expected, traffic. due slow business Retail Americas customer revenues X% segment a in to our posted decline
our However, improved have gross to effective team's with better-than-expected management pleased performance, earnings. we operating delivered and margin cost are
of better-than-planned increase X% versus year's Americas reporting cost Our an a earnings margin. quarter segment gross XX.X% QX, good business a of revenue leveraging. operating ahead had and performance and strong expectations, by margin powered Operating XX% last our by well this outstanding for Wholesale grew
our benefited period exceeding the and both, in a in increasing impacted Our Asia and operating by expectations and adjustment. with period, quarter improved Hong revenues growing from a posted than revenues Kong.
And and by profit a XX% in expected delivered business partially better Licensing onetime for an profit reported increase in performance X% XX%, business the exceptional lastly, China our
eyewear watches, Best-performing and footwear. product categories included fragrances, handbags,
business. to expanding and across we observed regional their way X growth line and leading the during overall to our to we In results. quarters, Marciano Marciano continue sales in variations apparel, women's previous performance. product accessories, the in accessories Europe, with trends Turning men's with In observed see our and contribution and
climate realm footwear, watches women's in This jewelry, played we a customer contributing the categories of women's performances.
In and genders.
In and to Americas major apparel showed activewear. to that promising all a all warmer men's dresses tops, and It's attributed of and sales, sell-through travel outerwear a small in strong business, weather our shorts, belts, role including accessories, the goods, handbags Retail outerwear despite bags, rates worth included noting items for sales knit initial dip Notably, products stronger shirts, both shorts conditions primarily leather men's women's observed traffic. and and product with best-performing in and contractions was categories, accessories. woven significant men's reduced
wovens with success sweaters, apparel. knit and However, we men's in growth did activewear, tops, and see pockets children's of shorts, pants
jumpsuits the force Additionally, several and product silhouette, straight quarter. denim new played quarter. leg during remained delivered Europe, and performance performed role products well, jeans, to handbags driving as the solid the a a In driven weather fashion cargo a such overall.
Similar accessories, styles by in
Across market, performance. sweaters, in skirts achieved we see handbags, shorts accessories belts, goods followed men's and men's women's the accessories, and continue by and strong apparel. the Asian performance women's strong leather men's categories, charge. Among watches, to apparel and women's small In led
performed during also period. segment apparel children's well Our the
Rodriguez team featuring next Fall quarter, During our Paul's products by Georgina modeled Based campaign campaign advertising face benefited the our on once XXXX. investments and and Paul we All with the third the recent success, Georgina. of in are as sell-through. Georgina including again and Guess? efforts marketing, currently from and had and this year's shooting Marciano the strong for
of singer is campaign. Italian international just Matteo world and in the XXXX star Andrea featured that being Bocelli, son holiday In sensation, announced addition, renowned our we Bocelli, rising
the promotional cadence have confident our plan product our towards we and with look offers looking we assortment and our believe holiday the consumers We pleased season, sensitive inventory position. and in and with value be been this our calendar. are very will that to plans As for in
period ago inventories third and lower a in plan. with X% quarter year We line our closed with than the
are XX% holidays customer of year's the below very pleased the respond well inventories with We during our levels. believe year. we expect inventory into positioned are still with close to to the last that year to We the demand and composition new and
close customer traffic recent world. our for taken trends look and we outlook for at the Regarding sales region each in direct-to-consumer our business the fourth have our a quarter, of
markets, the of the and geopolitical we the this, quarter outlook on expectations mindset. state consumer We top taken year. having and of have impact for consumers' Based on are are our and a also across and including factors have our tempered updated fourth view the more our line other the assessing current cautious business fiscal the bottom expectations
X.X% said, year for and expect operating and All between U.S. we for the dollars X.X% adjusted year and X.X% growth margin now fiscal the revenue between an in X.X%.
results. foreign share, exposures, our market and bond Markus per will further, currency which mostly earnings mark-to-market and resulting negatively equity impacted from EPS adjustments Regarding discuss unrealized
adjusted this expect fiscal year we to charge, EPS $X.XX for now share. and the between reach of $X.XX Inclusive per
by look we are As we invigorated our company. ahead, multitude that await opportunities of the
strategic expansion, last, in engaged against critical profitability return product planning are objectives. process, and and diligently relevancy, six and been customer-centricity we objectives excellence, invested relate These and brand executing growth, have We optimization, talent, digital to our on organizational efficiency, capital.
next serve and strongly strategic our growth goal best-in-class look in committed date. of as sharing to a to individuals and These which to lead engaged take of a team and more value have of our level, the later is at the plan cornerstones level the highly organizational At detail forward starting company creation. high talent, to I this capable with a
and ensure talent an working of are assessment We to and to benchmark are of our well reporting lines currently to our an grow. global company to accountability positioned improve with conduct international organization we consulting
companies to Regarding Los the recent our Angeles our of culture you proud place list ranking in environment, are the we XX our top and work very the share first Report. by Business with in
will focus I Next, on growth objective. our
revenue distribution rate our and rate previous result margins. our consistent is for a deliver operating mentioned company growth in to licensed of the being our America. of we expansion goal the which will current internalize to are design, with In for accelerate I the development of faster opportunity call, our the dresses the growth have outerwear operating and as Our G-III such North earnings, in license that that businesses and
we year internal $XX process transitioning represented businesses now in our at million wholesale, the and of organization. them are to These per
both have already the and categories product at teams collections recently. presented to developed Our market wholesale our have for customers the
the to early of it potential growth. optimistic and the line bottom is reacted assortment, customers we While change top the well to both and about in drive this are cycle,
growth Guess? brand Jeans and new excited expansion to the very our business today the with of will Building the audience, millennial Jeans, while Gen With launch multigenerational. on. the Z I'm of younger for on you Guess? our share the brand. assortment truly we head opportunities, brand is everyone, targeting the our And portfolio is casual addressing with be
expansion, leading are is this opportunity. Marciano this Nicolai with very excited we and
of few during we years, executed As know, Guess? you well our last brand. a significant elevation the
the current of DNA product more inception in great created was we transformation, of more this of that result worlds dressy the and separation very our our sophisticated, a denim. of assortment assortment the part between since brand's Guess? As casual
opportunity the lifestyle mindset see innovation, our tremendous center We in on casual reclaim present new we plan XXXX, product denim day with retail a embodying and identity a unveiling brands the around launch new the robust now in of American legacy to space, this a focused supported concept. and manufacturing include celebrity sustainable Denim and will The of West brand. visual by a new the strategy marketing Coast plan also
denim to and primarily capture The company's wholesale globally practices of benchmark new which category. quality a establish XX creativity. are innovation, our styling roots direct-to-consumer in denim contain very to customer. websites. the Price brand the rich expect offering, our capitalized and and competitive in poised market men's dominance our own Guess? Jeans is archives company's and on through channels product audience new the the with The We in be reaffirming wide and points brand distributed and amazing and a will design, design in the stores over the years
on My relates we to new that working are project growth China. in a last point on
retail in achieve relationships e-commerce engaged success. Chinese are merchandising [ the succeed design, and capabilities many has continued firm have Shanghai. networks.
They in brands helped called We company They also help based developing in marketplace strong celebrity and managing the in have have to plan local This ] the businesses. and Yunchi and a significant entertainment consulting us
we We here there to brand begin to are opportunities expand this The we our chance profitability. Guess? the good is business believe execution plan known plan of new a have and improve the year. excited China, and in in and well about
return and like profitability optimization on I'd address is invested that objective next efficiency, The capital. today to
We to proud of our accomplishments date on front. this are really
significant repurchases our During the doubled significant our improvements and rewarded We on last handsomely efficiency and achieved we dividends. margins and almost used operating invested generous we shareholders return years, capital few capital. with share in
The the and focused making. opportunities on businesses.
In implemented significant believe next planning, store primarily few and years, system last XXX, value applications have process and improve called of see we transfers a to PLM X both which that completed are optimization creation allocation further new for new inventory a called customer the we the optimization growth. can be the the analytics, and of innovation use Customer data Salesforce and Centric technology applications new analysis we solution, profitability decision by new significant market and We implementing Nevertheless, in solution unlock strongly year. across of should several now
industry confident analyze, been the process, due to a very am our supply these success in benchmarking. our I on inventories firms was that working business disruptions to and through challenging tools.
Last, managing the based data well support to make with face that strategic by peer were of every recommendations chain that regarding together aspect pandemic consulting great have times we analytics planning enabled teams and driven our new with we and assess
should This plan will and XXXX help long-term our finalized of be by development. February work inform
anticipate at we strategic previously now to As our plan year. we schedule sharing which an Investor have event, we in Day the plan upcoming mentioned,
why inflection today, an is and As my Guess? I point its history special I you a that with very of to close development. of time in I share its believe remarks want at
global Our accomplishments celebrating XX and the are a a unique Guess? of Today, and built history years. brand of company success over list business growth. years of we see
all over awareness world. brand built have the We
embrace. lifestyle our internal products and teams entire love amazing and represent have partners customers licensee that relevant developed Our an
each We marketing which optimize business.
We supports channels by development, models image distribution production market our that distribution, many including created a local area sourcing different product have to support an and with business, more and distribution of infrastructure assembled efficient and and functions. organizations that combines design, each network, services
can expansion shareholder team done structure that global a to on a getting deliver capital create We of have and grow, have job significant capital the strong has further we ahead, returns leaders on built its have to a high here. invested looking lastly, meaningfully contribute fantastic capacity profitability business associates and value.
And And that world-class growth.
a an to The What significant better one at one and has is can Guess? time. power brand platform and generate serviced This over synergistic business creation up only have incredible platform today clear. expansion, margin opportunity model. we growth is can that now that bigger value
Our good examples licenses, and recent initiatives, our internalization of of of are that young the Guess? the consumer, leverage to infrastructure. target including Jeans existing launch the growth
I to that was when pursue the into day continues U.S. a take passion, acknowledge commitment, their Paul was from opportunities and with leadership. years moment to these the has Guess? its foundation dream. build was when converted then to the unwavering strong a created. XX carry that upon That came brothers France torch vision to American own legacy, been dream every Marciano ago the and want to It established over four exciting
work on Guess'? a family, lifestyle brand into the all retire focus years our after Maurice, has company to From entire best. to thank and hard and very and and Maurice helping health we this extraordinary decided team announced, family global previously his small and of family. contributions denim his wish business oversee and to him Guess? this pioneer for amazing from vision evolution a As XX
our to be Looking last extraordinary please growth, excited develop the pass years that, more ahead, opportunity I our businesses.
With leverage and be Markus, capture the to over to multiple couldn't ahead. on Markus. focus strategic to infrastructure our I will XX like built call would go to key amazing
