Guess Q1 loss widens, revenues drop 51.5 percent

Guess?, Inc. reported first quarter GAAP net loss of 157.7 million dollars, compared to 21.4 million dollars for the first quarter of fiscal 2020, while GAAP diluted loss per share was 2.40 dollars compared to 27 cents for the same prior-year quarter. For the first quarter, the company recorded adjusted net loss of 118.9 million dollars compared to 19.6 million dollars for the first quarter of fiscal 2020, while adjusted diluted loss per share was 1.81 dollars, compared to 25 cents for the same prior-year quarter. Total net revenue for the quarter decreased 51.5 percent to 260.3 million dollars, while in constant currency, net revenue decreased by 50.1 percent.