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Guess? (GES) investor relations material
Guess? Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Net revenue rose 5.5% year-over-year to $772.9 million for the quarter ended August 2, 2025, with adjusted net earnings of $13.8 million and adjusted diluted EPS of $0.26, excluding significant one-time items.
GAAP net earnings were $6.2 million versus a $10.6 million loss in the prior year; adjusted net earnings fell 40% to $13.8 million.
Operating margin declined to 2.3% from 6.5% due to higher expenses, increased markdowns, and the absence of a prior-year gain on asset sales.
A proposed take-private transaction with Authentic Brands Group was announced, offering $16.75 per share in cash to shareholders (excluding certain insiders), expected to close in Q4 FY26, pending regulatory and shareholder approval.
Financial highlights
Gross margin decreased 120 basis points to 42.5% due to higher markdowns and unfavorable business mix.
SG&A expenses increased 9.1% to $308.6 million, representing 39.9% of net revenue.
Net earnings attributable to the company were $6.2 million, or $0.12 per diluted share, compared to a net loss of $10.6 million, or $(0.28) per share, in the prior-year quarter.
Adjusted net earnings and EPS exclude $7.5 million in after-tax charges for transaction costs, restructuring, and other non-recurring items.
Free cash flow for the six months was negative $44.6 million, down from negative $23.0 million year-over-year.
Segment performance
Europe: Net revenue up 14% to $436.9 million, with operating margin rising to 10.6% on higher wholesale and retail sales.
Americas Retail: Net revenue down 1% to $178.8 million, with a segment loss of $6.6 million and operating margin at -3.7%.
Americas Wholesale: Net revenue down 11% to $75.2 million, with operating margin up to 19.6% on improved product margins.
Asia: Net revenue up 3% to $55.8 million, but segment loss widened to $3.8 million and operating margin declined to -6.8%.
Licensing: Net royalties fell 10% to $26.3 million, with segment earnings down 8% and operating margin increased to 95.4%.
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