Los Angeles-based Guess Inc. on Wednesday said comparable-store sales at its signature chain rose 8.7 percent in October, with total volume up 14.5 percent to $40.5 million for the five weeks ended Nov. 1.
This story first appeared in the November 6, 2003 issue of WWD. Subscribe Today.
The results were slightly ahead of president and chief operating officer Carlos Alberini’s projections that comps would be up by mid-single-digit percentages through the fourth quarter. The company’s 258-store chain has become a key financial driver, contributing 67.2 percent of the firm’s $437.3 million in revenues through the first nine months of the fiscal year and producing an operating profit for the period, when the company as a whole reported a net loss.
Separately, the company said it had signed a licensing deal for Parlux Fragrances Inc., of Fort Lauderdale, to produce and sell a line of prestige-priced fragrances and related products under the Guess name. Guess said the deal extended through December 2009, but warned it did not expect to see significant licensing revenue from the new venture until 2005.
The news helped push the company’s shares to a new 52-week high during Wednesday’s New York Stock Exchange trading, reaching as high as $15 before closing at $14.50, up 60 cents. The previous high in the past year had been $14 and the stock had been as low as $3.30.