
Financial Performance - Revenues for the first quarter of fiscal 2025 increased to 13.0 million, compared to a GAAP net loss of 0.23[7] - Adjusted net loss for the first quarter was 0.27, compared to 0.07 in the same prior-year quarter[8] - For the three months ended May 4, 2024, net revenue was 569,798,000 for the same period in 2023, representing a growth of 3.9%[37] - Total net revenue for the three months ended May 4, 2024, was 569,798,000 in the same period last year[42] - Reported GAAP net earnings attributable to Guess?, Inc. were 11,805,000 in the previous year[40] - Adjusted net loss attributable to Guess?, Inc. was 3,487,000 in the prior year[40] - Total loss from operations increased to 922,000, marking a 2,057% change[42] - Free cash flow for the three months ended May 4, 2024, was (31,495,000) in the same period last year[50] Revenue Segments - Americas wholesale revenues increased by 21% in U.S. dollars and 18% in constant currency, while Americas retail revenues remained flat[10] - Licensing revenues increased by 21% in both U.S. dollars and constant currency[10] - Americas Wholesale segment revenue increased by 21% to 51,393,000 year-over-year[42] Future Outlook - The company expects revenue growth between 10.7% and 12.7% for the full fiscal year 2025, with GAAP EPS projected between 2.89[3] - The company's outlook for Q2 and full fiscal year 2025 assumes foreign currency exchange rates remain stable at recent levels[56] - Full fiscal 2025 outlook excludes various costs including professional service fees, transaction costs from the rag & bone acquisition, and asset impairment charges[56] - The company plans to discuss its future outlook and strategies in a conference call scheduled for May 30, 2024[28] Acquisitions and Integrations - The acquisition of rag & bone was completed on April 2, 2024, integrating the brand into the company's existing segments[6] - The company acquired all operating assets and a 50% interest in the intellectual property assets of rag & bone on April 2, 2024, expanding its market presence in the U.S. and U.K.[29] - The company plans to launch Guess Jeans and work with the rag & bone team to expand globally[4] Shareholder Actions - The board approved a quarterly cash dividend of 200 million share repurchase program was authorized, with 255,785,000, which is 43.2% of net revenue, compared to 40.4% in the previous year[37] Financial Adjustments - The company recorded asset impairment charges primarily related to underperforming retail locations and expected store closures[56] - The income tax effect of various adjustments is based on the company's assessment of deductibility using the statutory income tax rate[56] - The company is unable to predict future amounts related to certain adjustments due to their inconsistent nature and elements beyond its control[56] - Adjustments for the fiscal year include loss on extinguishment of debt from exchanged 2024 Notes and changes in fair value of equity-linked derivatives associated with the 2028 Notes[56] - The adjusted results exclude the impact of certain professional service fees, transaction costs, and asset impairment charges, among others[56] Cash and Assets - Cash and cash equivalents decreased to 298,642,000 compared to the previous year[46] - Total assets increased to 2,440,722,000 year-over-year[46]