Guess closed 123 retail stores in 2020
The American clothing retailer Guess reported that it closed 123 stores in 2020, to directly operate 1,046.
In general, the company has reduced its dependency on a particular geographic region.
Thus, according to Guess, this geographic diversification provides ample opportunities for long-term growth, even during regional economic slowdowns.
The percentage of its revenue generated outside the United States has increased from approximately 32% of its total revenue for the year ending December 31, 2005 to about 74% of its total revenue for the year ending January 30, 2021.
As of the end of January 2021, Guess (Guess?, Inc) directly operated 1,046 retail stores in the Americas, Europe and Asia.
The company's partners operated an additional 524 retail stores around the world.TrendingCofece authorizes concentration of Ganfeng with Bacanora Lithium
In sum, as of January 30, 2021, Guess and its partners were operating in approximately 100 countries around the world.
The company continues to evaluate the different businesses in its global portfolio, directing capital investments towards those with the greatest earnings potential.
During fiscal year 2021, the company made the decision to integrate its G by GUESS brand into its factory business to drive further efficiencies.
For the year ended January 30, 2021, Guess opened one new store and closed 39 stores in the Americas, ending the year with 395 stores.
This store count does not include 27 concessions in Mexico.
Guess directly operates its retail stores and concessions in Mexico and Brazil through its majority-owned joint ventures.
The company's retail segment in the Americas also includes its retail websites and other directly operated websites in the United States, Canada, Mexico and Brazil.
These websites function as virtual storefronts that, combined with their retail stores, provide a consumer shopping experience to sell their products and promote their brands.
They also provide fashion information and a mechanism for customer feedback while promoting customer loyalty and enhancing our brand identity through interactive content.
The lines include complete clothing collections, including jeans, pants, skirts, dresses, sportswear, shorts, blouses, shirts, jackets, knitwear and intimate apparel.
In addition, the company selectively licenses to design, manufacture and distribute a wide range of products that complement its apparel lines, including eyewear, watches, handbags, footwear, children's and baby apparel, outerwear, fragrances, jewelry and other fashion accessories.Advertising Tagscapital purchase diversification skirts G by GUESS Guess income investments jeans retail brands fashion world business opportunities pants products clothing sportswear stores dresses