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Guess posts huge Q1 GAAP net loss of $157.7 million

Christian Fernsby ▼ | June 11, 2020
Guess reported financial results for its first quarter ended May 2, 2020.
Guess
Guess   For the first quarter of fiscal 2021, the Company recorded GAAP net loss
For the first quarter of fiscal 2021, the Company recorded GAAP net loss of $157.7 million, compared to $21.4 million for the first quarter of fiscal 2020.

Topics: Guess

GAAP diluted loss per share was $2.40 for the first quarter of fiscal 2021, compared to $0.27 for the same prior-year quarter.

The Company estimates that its prior year share buybacks and convertible notes transaction had a net negative impact of $0.50 on GAAP diluted loss per share and currency had a negative impact of $0.09 on diluted loss per share in the first quarter of fiscal 2021.

For the first quarter of fiscal 2021, the Company recorded adjusted net loss of $118.9 million, compared to $19.6 million for the first quarter of fiscal 2020.

Adjusted diluted loss per share was $1.81, compared to $0.25 for the same prior-year quarter.

The Company estimates that its prior year share buybacks and convertible notes transaction had a net negative impact of $0.36 on adjusted diluted loss per share in the first quarter of fiscal 2021.

Total net revenue for the first quarter of fiscal 2021 decreased 51.5% to $260.3 million, compared to $536.7 million in the same prior-year quarter.

In constant currency, net revenue decreased by 50.1%.


 

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