North American e-commerce sales grow nearly 41% for Guess in fiscal 2015
March 25, 2015 12:49 PM
Investments in e-commerce resulted in online sales gains of more than 40% year over year in North America for apparel manufacturer and retailer Guess Inc.
The company reported online sales in North America of $78.4 million in fiscal 2015, up 41.6% from $55.4 million in the prior year. For the fourth quarter of fiscal 2015, the retailer reported North American e-commerce sales of $30.2 million, up 36.8% from $22.1 million during the same period last year. Guess is No. 307 in the Internet Retailer 2014 Top 500 Guide.
With strong growth in its online business in North America, executives told analysts on the retailer’s Q4 2015 earnings call that they are turning their attention abroad.
“We saw strong growth for e-comm in North America in excess of 40%, while we also expanded our European e-commerce business at a similar rate, but with a smaller base,” CEO Paul Marciano told analysts, according to a transcript of the call obtained from Seeking Alpha. “We have made significant investment in this channel in the past several years, and we continue to do so. We expect to see double-digit growth in fiscal year 2016 across all regions of the world.”
“In Europe we will be focusing on growing our e-commerce business, optimizing our store portfolio by limiting our store openings, and exiting doors where appropriate,” Michael Relich, chief operating officer, said.
For fiscal year 2015, which ended Jan. 31, Guess reported product sales of $2.307, down 5.9% from $2.451 billion in fiscal 2014. Net revenue was $2.418 billion, down 5.9% from $2.570 billion in fiscal 2014, and comparable-store sales decreased 4.9%.