Los Angeles – Guess on Thursday reported a first-quarter net loss of $2.1 million, compared with net earnings of $9.9 million in the year-ago period, as sales fell in North America and Europe.
"First quarter earnings results were slightly better than our expectations,” said Paul Marciano, CEO. “We delivered revenues within the range of our guidance and managed our expenses tightly.”
Sales fell 4.8% at $522.5 million, compared with $548.9 million in the prior year.
The company's retail stores and e-commerce sites in North America generated revenue of $228.3 million in the first quarter of fiscal 2015, a 4.2% decrease from $238.3 million a year ago. Same-store sales including e-commerce sites for the first quarter of fiscal year 2015 decreased 3.8% in U.S. dollars and 2.3% in constant currency compared to the same period a year ago.