1-11893 | 95-3679695 |
(Commission File Number) | (IRS Employer Identification No.) |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: | |
o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
99.1 | Press Release of Guess?, Inc. dated August 26, 2015 (financial results for the quarter ended August 1, 2015) |
Dated: August 26, 2015 | GUESS?, INC. | |
By: | /s/ Sandeep Reddy | |
Sandeep Reddy Chief Financial Officer |
Exhibit No. | Description | |
99.1 | Press Release of Guess?, Inc. dated August 26, 2015 (financial results for the quarter ended August 1, 2015) |
Exhibit 99.1 |
• | Americas Retail revenues decreased 5%; retail comp sales including e-commerce decreased 3% in U.S. dollars and was flat in constant currency |
• | Europe revenues decreased 15% in U.S. dollars and increased 4% in constant currency |
• | Asia revenues decreased 12% in U.S. dollars and 6% in constant currency |
• | Americas Wholesale revenues decreased 15% in U.S. dollars and 9% in constant currency |
• | Operating earnings decreased 12% |
• | Earnings per share decreased 19%, including the negative impact of currency of 38% |
• | The Company’s retail stores and e-commerce sites in the Americas generated revenue of $232.5 million in the second quarter of fiscal 2016, a 4.7% decrease from $244.0 million in the same period a year ago. Comparable store sales including the results of our e-commerce sites in the U.S. and Canada for the second quarter of fiscal 2016 decreased 2.8% in U.S. dollars and was relatively flat in constant currency compared to the same period a year ago. |
• | Net revenue from the Company’s Europe segment decreased 15.3% to $199.4 million in the second quarter of fiscal 2016, from $235.3 million in the prior-year period. In constant currency, net revenue increased 3.7%. |
• | Net revenue from the Company’s Asia segment decreased 11.7% to $56.7 million in the second quarter of fiscal 2016, from $64.3 million in the prior-year period. In constant currency, net revenue decreased 6.0%. |
• | Net revenue from the Company’s Americas Wholesale segment decreased 15.4% to $32.4 million in the second quarter of fiscal 2016, from $38.3 million in the prior-year period. In constant currency, net revenue decreased 9.0%. |
• | Licensing segment net revenue decreased 5.5% to $25.3 million in the second quarter of fiscal 2016, from $26.8 million in the prior-year period. |
• | Operating margin for the Company’s Americas Retail segment increased 420 basis points to 2.3% in the second quarter of fiscal 2016, compared to negative 1.9% in the prior-year period. The increase in operating margin was driven by higher gross margins due primarily to less markdowns and higher initial mark-ups, partially offset by the unfavorable impact from currency exchange rate fluctuations on product costs, and a lower SG&A rate driven by lower store impairment charges. |
• | Operating margin for the Company’s Europe segment decreased 130 basis points to 9.1% in the second quarter of fiscal 2016, compared to 10.4% in the prior-year period. The decrease in operating margin was driven primarily by lower gross margins due to the unfavorable impact from currency exchange rate fluctuations on product costs, partially offset by higher initial mark-ups. |
• | Operating margin for the Company’s Asia segment decreased 190 basis points to 1.6% in the second quarter of fiscal 2016, compared to 3.5% in the prior-year period. The decrease in operating margin was driven by lower gross margins in South Korea and a higher SG&A rate due primarily to overall deleveraging. |
• | Operating margin for the Company’s Americas Wholesale segment increased 160 basis points to 15.1% in the second quarter of fiscal 2016, compared to 13.5% in the prior-year period. The increase in operating margin was due to higher product margins, partially offset by an overall deleveraging of SG&A expenses. |
• | Operating margin for the Company’s Licensing segment decreased 450 basis points to 88.5% in the second quarter of fiscal 2016, compared to 93.0% in the prior-year period. |
• | The Company’s retail stores and e-commerce sites in the Americas generated revenue of $446.7 million in the first six months of fiscal 2016, a 5.4% decrease from $472.3 million in the same period a year ago. Comparable store sales including the results of our e-commerce sites in the U.S. and Canada for the six months ended August 1, 2015 decreased 4.3% in U.S. dollars and 1.8% in constant currency compared to the same period a year ago. |
• | Net revenue from the Company’s Europe segment decreased 14.6% to $336.8 million in the first six months of fiscal 2016, from $394.4 million in the prior-year period. In constant currency, net revenue increased 5.3%. |
• | Net revenue from the Company’s Asia segment decreased 10.1% to $120.8 million in the first six months of fiscal 2016, from $134.4 million in the prior-year period. In constant currency, net revenue decreased 6.0%. |
• | Net revenue from the Company’s Americas Wholesale segment decreased 10.2% to $69.6 million in the first six months of fiscal 2016, from $77.6 million in the prior-year period. In constant currency, net revenue decreased 3.8%. |
• | Licensing segment net revenue decreased 2.3% to $51.2 million in the first six months of fiscal 2016, from $52.4 million in the prior-year period. |
• | Operating margin for the Company’s Americas Retail segment increased 240 basis points to negative 0.4% in the first six months of fiscal 2016, compared to negative 2.8% in the prior-year period. The increase in operating margin was driven primarily by higher gross margins due primarily to less markdowns and higher initial mark-ups, partially offset by the negative impact on the fixed cost structure resulting from negative comparable store sales and the unfavorable impact from currency exchange rate fluctuations on product costs. |
• | Operating margin for the Company’s Europe segment decreased 20 basis points to 4.3% in the first six months of fiscal 2016, compared to 4.5% in the prior-year period. The decrease in operating margin was driven by lower gross margins due to the unfavorable impact from currency exchange rate fluctuations on product costs, partially offset by higher initial mark-ups. |
• | Operating margin for the Company’s Asia segment increased 40 basis points to 4.6% in the first six months of fiscal 2016, compared to 4.2% in the prior-year period. The increase in operating margin was driven by a lower SG&A rate due primarily to an overall leveraging of expenses as we phase out of our G by GUESS concept in South Korea, partially offset by lower gross margins in South Korea. |
• | Operating margin for the Company’s Americas Wholesale segment was flat at 16.7% in the first six months of fiscal 2016 compared to the prior-year period. |
• | Operating margin for the Company’s Licensing segment decreased 210 basis points to 88.8% in the first six months of fiscal 2016, compared to 90.9% in the prior-year period. |
• | Consolidated net revenues are expected to decline between 4.5% and 3.0% in constant currency. Currency headwinds are expected to negatively impact consolidated revenue growth by approximately 8.0%, for a net decline between 12.5% and 11.0%. |
• | Operating margin is expected to be between 2.0% and 3.0% and includes 150 basis points of currency headwind. |
• | Diluted earnings per share are expected to be in the range of $0.08 to $0.12. The estimated impact on earnings per share of the currency headwinds is approximately $0.12. |
• | Consolidated net revenues are expected to decline between 1.5% and 0.5% in constant currency. Currency headwinds are expected to negatively impact consolidated revenue growth by approximately 7.5%, for a net decline between 9.0% and 8.0%. |
• | Operating margin is expected to be between 5.0% and 6.0% and includes 130 basis points of currency headwind. |
• | Diluted earnings per share are expected to be in the range of $0.89 to $1.02. The estimated impact on earnings per share of the currency headwinds is approximately $0.40. |
Outlook by Segment1 | ||||||||||
Third Quarter of Fiscal 2016 | Fiscal Year 2016 | |||||||||
Constant Currency2 | U.S. Dollars | Constant Currency2 | U.S. Dollars | |||||||
Americas Retail3: | ||||||||||
Comps | flat to up LSD | down LSD | flat to up LSD | down LSD | ||||||
Net Revenue | down LSD to up LSD | down LSD | down LSD to flat | down LSD | ||||||
Europe: | ||||||||||
Comps | up MSD | __ | up LSD | __ | ||||||
Net Revenue | down MSD | down low-twenties | up LSD | down low-teens | ||||||
Asia: | ||||||||||
Net Revenue | down MSD to LSD | down low-teens to LDD | down HSD | down low-teens | ||||||
Americas Wholesale3: | ||||||||||
Net Revenue | down HSD | down high-teens | down MSD | down low-teens | ||||||
Licensing: | ||||||||||
Net Revenue | __ | down MSD | __ | down LSD | ||||||
Notes | ||||||||||
1 | As used in the table above, “LSD” is used to refer to the range of Low-Single-Digits, “MSD” is used to refer to the range of Mid-Single-Digits, “HSD” is used to refer to the range of High-Single-Digits, and “LDD” is used to refer to the range of Low-Double-Digits. | |||||||||
2 | Eliminates the impact of expected foreign currency translation to give investors a better understanding of the underlying trends within the business. | |||||||||
3 | Beginning this quarter, the Company has changed the names of its “North American Retail” and “North American Wholesale” segments to “Americas Retail” and “Americas Wholesale” to better reflect that these segments are inclusive of its operations in North America as well as Central and South America. There have been no changes to the underlying reporting in either segment. |
Contact: | Guess?, Inc. | |
Fabrice Benarouche | ||
VP, Finance and Investor Relations | ||
(213) 765-5578 | ||
Source: | Guess?, Inc. |
Guess?, Inc. and Subsidiaries | |||||||||||||||||||||||||||
Condensed Consolidated Statements of Income | |||||||||||||||||||||||||||
(amounts in thousands, except per share data) | |||||||||||||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||||||||||||
August 1, 2015 | August 2, 2014 | August 1, 2015 | August 2, 2014 | ||||||||||||||||||||||||
$ | % | $ | % | $ | % | $ | % | ||||||||||||||||||||
Product sales | $ | 520,937 | 95.4 | % | $ | 581,779 | 95.6 | % | $ | 973,896 | 95.0 | % | $ | 1,078,707 | 95.4 | % | |||||||||||
Net royalties | 25,327 | 4.6 | % | 26,792 | 4.4 | % | 51,192 | 5.0 | % | 52,405 | 4.6 | % | |||||||||||||||
Net revenue | 546,264 | 100.0 | % | 608,571 | 100.0 | % | 1,025,088 | 100.0 | % | 1,131,112 | 100.0 | % | |||||||||||||||
Cost of product sales | 348,147 | 63.7 | % | 391,794 | 64.4 | % | 661,486 | 64.5 | % | 738,104 | 65.3 | % | |||||||||||||||
Gross profit | 198,117 | 36.3 | % | 216,777 | 35.6 | % | 363,602 | 35.5 | % | 393,008 | 34.7 | % | |||||||||||||||
Selling, general and administrative expenses | 171,916 | 31.5 | % | 186,919 | 30.7 | % | 333,048 | 32.5 | % | 365,127 | 32.2 | % | |||||||||||||||
Earnings from operations | 26,201 | 4.8 | % | 29,858 | 4.9 | % | 30,554 | 3.0 | % | 27,881 | 2.5 | % | |||||||||||||||
Other income (expense): | |||||||||||||||||||||||||||
Interest expense | (729 | ) | (0.1 | %) | (772 | ) | (0.1 | %) | (1,164 | ) | (0.1 | %) | (1,297 | ) | (0.1 | %) | |||||||||||
Interest income | 239 | 0.1 | % | 320 | 0.1 | % | 511 | 0.0 | % | 725 | 0.1 | % | |||||||||||||||
Other, net | 3,708 | 0.6 | % | 4,766 | 0.7 | % | 6,334 | 0.6 | % | 3,647 | 0.2 | % | |||||||||||||||
Earnings before income tax expense | 29,419 | 5.4 | % | 34,172 | 5.6 | % | 36,235 | 3.5 | % | 30,956 | 2.7 | % | |||||||||||||||
Income tax expense | 10,940 | 2.0 | % | 11,900 | 1.9 | % | 13,769 | 1.3 | % | 10,871 | 0.9 | % | |||||||||||||||
Net earnings | 18,479 | 3.4 | % | 22,272 | 3.7 | % | 22,466 | 2.2 | % | 20,085 | 1.8 | % | |||||||||||||||
Net earnings attributable to noncontrolling interests | 190 | 0.1 | % | 318 | 0.1 | % | 836 | 0.1 | % | 232 | 0.0 | % | |||||||||||||||
Net earnings attributable to Guess?, Inc. | $ | 18,289 | 3.3 | % | $ | 21,954 | 3.6 | % | $ | 21,630 | 2.1 | % | $ | 19,853 | 1.8 | % | |||||||||||
Net earnings per common share attributable to common stockholders: | |||||||||||||||||||||||||||
Basic | $ | 0.21 | $ | 0.26 | $ | 0.25 | $ | 0.23 | |||||||||||||||||||
Diluted | $ | 0.21 | $ | 0.26 | $ | 0.25 | $ | 0.23 | |||||||||||||||||||
Weighted average common shares outstanding attributable to common stockholders: | |||||||||||||||||||||||||||
Basic | 85,004 | 84,573 | 84,985 | 84,536 | |||||||||||||||||||||||
Diluted | 85,290 | 84,799 | 85,132 | 84,765 | |||||||||||||||||||||||
Guess?, Inc. and Subsidiaries | |||||||||||||||||||||||||
Consolidated Segment Data | |||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||||||||||
August 1, | August 2, | % | August 1, | August 2, | % | ||||||||||||||||||||
2015 | 2014 | change | 2015 | 2014 | change | ||||||||||||||||||||
Net revenue: | |||||||||||||||||||||||||
Americas Retail1 | $ | 232,456 | $ | 244,000 | (5%) | $ | 446,705 | $ | 472,344 | (5%) | |||||||||||||||
Europe | 199,375 | 235,260 | (15%) | 336,772 | 394,418 | (15%) | |||||||||||||||||||
Asia | 56,745 | 64,267 | (12%) | 120,780 | 134,385 | (10%) | |||||||||||||||||||
Americas Wholesale1 | 32,361 | 38,252 | (15%) | 69,639 | 77,560 | (10%) | |||||||||||||||||||
Licensing | 25,327 | 26,792 | (5%) | 51,192 | 52,405 | (2%) | |||||||||||||||||||
$ | 546,264 | $ | 608,571 | (10%) | $ | 1,025,088 | $ | 1,131,112 | (9%) | ||||||||||||||||
Earnings (loss) from operations: | |||||||||||||||||||||||||
Americas Retail1 | $ | 5,244 | $ | (4,662 | ) | 212% | $ | (1,965 | ) | $ | (13,061 | ) | 85% | ||||||||||||
Europe | 18,186 | 24,513 | (26%) | 14,518 | 17,881 | (19%) | |||||||||||||||||||
Asia | 887 | 2,264 | (61%) | 5,500 | 5,617 | (2%) | |||||||||||||||||||
Americas Wholesale1 | 4,872 | 5,167 | (6%) | 11,619 | 12,920 | (10%) | |||||||||||||||||||
Licensing | 22,415 | 24,909 | (10%) | 45,440 | 47,630 | (5%) | |||||||||||||||||||
Corporate Overhead | (25,403 | ) | (22,333 | ) | 14% | (44,558 | ) | (43,106 | ) | 3% | |||||||||||||||
$ | 26,201 | $ | 29,858 | (12%) | $ | 30,554 | $ | 27,881 | 10% | ||||||||||||||||
Operating margins: | |||||||||||||||||||||||||
Americas Retail1 | 2.3 | % | (1.9 | %) | (0.4 | %) | (2.8 | %) | |||||||||||||||||
Europe | 9.1 | % | 10.4 | % | 4.3 | % | 4.5 | % | |||||||||||||||||
Asia | 1.6 | % | 3.5 | % | 4.6 | % | 4.2 | % | |||||||||||||||||
Americas Wholesale1 | 15.1 | % | 13.5 | % | 16.7 | % | 16.7 | % | |||||||||||||||||
Licensing | 88.5 | % | 93.0 | % | 88.8 | % | 90.9 | % | |||||||||||||||||
Total Company | 4.8 | % | 4.9 | % | 3.0 | % | 2.5 | % | |||||||||||||||||
Notes | |||||||||||||||||||||||||
1 | Beginning this quarter, the Company has changed the names of its “North American Retail” and “North American Wholesale” segments to “Americas Retail” and “Americas Wholesale” to better reflect that these segments are inclusive of its operations in North America as well as Central and South America. There have been no changes to the underlying reporting in either segment. |
Guess?, Inc. and Subsidiaries | |||||||||||||||||||||||||
Constant Currency Financial Measures | |||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||
August 1, 2015 | August 2, 2014 | % change | |||||||||||||||||||||||
As Reported | Foreign Currency Impact | Constant Currency | As Reported | As Reported | Constant Currency | ||||||||||||||||||||
Net revenue: | |||||||||||||||||||||||||
Americas Retail1 | $ | 232,456 | $ | 7,808 | $ | 240,264 | $ | 244,000 | (5%) | (2%) | |||||||||||||||
Europe | 199,375 | 44,643 | 244,018 | 235,260 | (15%) | 4% | |||||||||||||||||||
Asia | 56,745 | 3,677 | 60,422 | 64,267 | (12%) | (6%) | |||||||||||||||||||
Americas Wholesale1 | 32,361 | 2,439 | 34,800 | 38,252 | (15%) | (9%) | |||||||||||||||||||
Licensing | 25,327 | — | 25,327 | 26,792 | (5%) | (5%) | |||||||||||||||||||
$ | 546,264 | $ | 58,567 | $ | 604,831 | $ | 608,571 | (10%) | (1%) | ||||||||||||||||
Six Months Ended | |||||||||||||||||||||||||
August 1, 2015 | August 2, 2014 | % change | |||||||||||||||||||||||
As Reported | Foreign Currency Impact | Constant Currency | As Reported | As Reported | Constant Currency | ||||||||||||||||||||
Net revenue: | |||||||||||||||||||||||||
Americas Retail1 | $ | 446,705 | $ | 13,169 | $ | 459,874 | $ | 472,344 | (5%) | (3%) | |||||||||||||||
Europe | 336,772 | 78,392 | 415,164 | 394,418 | (15%) | 5% | |||||||||||||||||||
Asia | 120,780 | 5,562 | 126,342 | 134,385 | (10%) | (6%) | |||||||||||||||||||
Americas Wholesale1 | 69,639 | 5,012 | 74,651 | 77,560 | (10%) | (4%) | |||||||||||||||||||
Licensing | 51,192 | — | 51,192 | 52,405 | (2%) | (2%) | |||||||||||||||||||
$ | 1,025,088 | $ | 102,135 | $ | 1,127,223 | $ | 1,131,112 | (9%) | (0%) | ||||||||||||||||
Notes | |||||||||||||||||||||||||
1 | Beginning this quarter, the Company has changed the names of its “North American Retail” and “North American Wholesale” segments to “Americas Retail” and “Americas Wholesale” to better reflect that these segments are inclusive of its operations in North America as well as Central and South America. There have been no changes to the underlying reporting in either segment. |
Guess?, Inc. and Subsidiaries | ||||||||||||||||||
Selected Condensed Consolidated Balance Sheet Data | ||||||||||||||||||
(in thousands) | ||||||||||||||||||
August 1, | January 31, | August 2, | ||||||||||||||||
2015 | 2015 | 2014 | ||||||||||||||||
ASSETS | ||||||||||||||||||
Cash and cash equivalents | $ | 470,946 | $ | 483,483 | $ | 461,519 | ||||||||||||
Short-term investments | — | — | 5,019 | |||||||||||||||
Receivables, net | 198,735 | 216,205 | 233,906 | |||||||||||||||
Inventories | 335,460 | 319,078 | 392,387 | |||||||||||||||
Other current assets | 85,013 | 92,593 | 109,475 | |||||||||||||||
Property and equipment, net | 241,579 | 259,524 | 309,155 | |||||||||||||||
Other assets | 231,879 | 230,522 | 228,958 | |||||||||||||||
Total Assets | $ | 1,563,612 | $ | 1,601,405 | $ | 1,740,419 | ||||||||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||||||||||||
Current portion of capital lease obligations and borrowings | $ | 4,840 | $ | 1,548 | $ | 1,997 | ||||||||||||
Other current liabilities | 314,376 | 300,418 | 358,169 | |||||||||||||||
Long-term debt and capital lease obligations | 2,057 | 6,165 | 6,735 | |||||||||||||||
Other long-term liabilities | 178,541 | 199,391 | 204,739 | |||||||||||||||
Redeemable and nonredeemable noncontrolling interests | 17,345 | 20,027 | 21,289 | |||||||||||||||
Guess?, Inc. stockholders’ equity | 1,046,453 | 1,073,856 | 1,147,490 | |||||||||||||||
Total Liabilities and Stockholders’ Equity | $ | 1,563,612 | $ | 1,601,405 | $ | 1,740,419 |
Guess?, Inc. and Subsidiaries | ||||||||||||||
Condensed Consolidated Cash Flow Data | ||||||||||||||
(in thousands) | ||||||||||||||
Six Months Ended | ||||||||||||||
August 1, | August 2, | |||||||||||||
2015 | 2014 | |||||||||||||
Net cash provided by operating activities | $ | 56,736 | $ | 30,363 | ||||||||||
Net cash used in investing activities | (17,227 | ) | (32,550 | ) | ||||||||||
Net cash used in financing activities | (44,443 | ) | (40,622 | ) | ||||||||||
Effect of exchange rates on cash and cash equivalents | (7,603 | ) | 1,383 | |||||||||||
Net change in cash and cash equivalents | (12,537 | ) | (41,426 | ) | ||||||||||
Cash and cash equivalents at the beginning of the year | 483,483 | 502,945 | ||||||||||||
Cash and cash equivalents at the end of the period | $ | 470,946 | $ | 461,519 | ||||||||||
Supplemental information: | ||||||||||||||
Depreciation and amortization | $ | 36,443 | $ | 42,654 | ||||||||||
Rent | $ | 129,611 | $ | 142,996 |
Guess?, Inc. and Subsidiaries | ||||||||||||||
Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow | ||||||||||||||
(in thousands) | ||||||||||||||
Six Months Ended | ||||||||||||||
August 1, | August 2, | |||||||||||||
2015 | 2014 | |||||||||||||
Net cash provided by operating activities | $ | 56,736 | $ | 30,363 | ||||||||||
Less: Purchases of property and equipment | (24,963 | ) | (32,316 | ) | ||||||||||
Free cash flow | $ | 31,773 | $ | (1,953 | ) | |||||||||
Guess?, Inc. and Subsidiaries | ||||||||||
Retail Store Data | ||||||||||
International Store Count | ||||||||||
As of August 1, 2015 | As of August 2, 2014 | |||||||||
Total | Directly Operated | Total | Directly Operated | |||||||
Region | Stores | Stores | Stores | Stores | ||||||
United States and Canada | 456 | 456 | 488 | 488 | ||||||
Europe and the Middle East | 594 | 266 | 615 | 264 | ||||||
Asia | 478 | 50 | 495 | 46 | ||||||
Central and South America | 95 | 43 | 87 | 39 | ||||||
1,623 | 815 | 1,685 | 837 | |||||||
Guess?, Inc. and Subsidiaries | ||||||||||
Retail Store Data | ||||||||||
U.S. and Canada | ||||||||||
Six Months Ended | ||||||||||
August 1, | August 2, | |||||||||
2015 | 2014 | |||||||||
Number of stores at the beginning of the year | 481 | 494 | ||||||||
Store openings | 4 | 5 | ||||||||
Store closures | (29) | (11) | ||||||||
Number of stores at the end of the period | 456 | 488 | ||||||||
Total store square footage at the end of the period | 2,194,000 | 2,316,000 |
Guess?, Inc. and Subsidiaries | |||||||||||||||||||||
Americas Retail Net Revenue | |||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||||||
August 1, | August 2, | % | August 1, | August 2, | % | ||||||||||||||||
2015 | 2014 | change | 2015 | 2014 | change | ||||||||||||||||
Net revenue: | |||||||||||||||||||||
Retail stores | $ | 214,224 | $ | 228,825 | (6.4 | %) | $ | 410,261 | $ | 441,172 | (7.0 | %) | |||||||||
E-commerce sites | 18,232 | 15,175 | 20.1 | % | 36,444 | 31,172 | 16.9 | % | |||||||||||||
Total | $ | 232,456 | $ | 244,000 | (4.7 | %) | $ | 446,705 | $ | 472,344 | (5.4 | %) | |||||||||
Guess?, Inc. and Subsidiaries | |||||||
Retail Store Change in Comparable Store Sales | |||||||
U.S. and Canada | |||||||
Three Months Ended | Six Months Ended | ||||||
August 1, 2015 | August 1, 2015 | ||||||
U.S. Dollars | Constant Currency | U.S. Dollars | Constant Currency | ||||
Excluding e-commerce sales | (4.6%) | (1.7%) | (6.2%) | (3.7%) | |||
Impact of e-commerce sales | 1.8% | 1.9% | 1.9% | 1.9% | |||
Including e-commerce sales | (2.8%) | 0.2% | (4.3%) | (1.8%) |