GUESS INC

CIK:0000912463|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 01, 2025	Nov. 02, 2024	Nov. 01, 2025	Nov. 02, 2024
Net revenue	$ 791,427	$ 738,518	$ 2,212,165	$ 2,063,021
Cost of product sales	455,445	416,641	1,288,957	1,173,100
Gross profit	335,982	321,877	923,208	889,921
Selling, general and administrative expenses	309,026	279,389	904,150	829,188
Asset impairment charges	4,828	1,091	13,183	4,509
Net (gains) losses on lease modifications	231	(718)	(5)	(718)
Gain on sale of assets	0	0	0	(13,781)
(Gain) loss on equity method investment	(1,286)	(161)	(2,081)	559
Earnings from operations	23,183	42,276	7,961	70,164
Other income (expense):
Interest expense	(7,809)	(8,131)	(23,518)	(22,212)
Interest income	1,760	2,613	6,782	9,218
Loss on extinguishment of debt	0	0	0	(1,952)
Other income (expense), net	21,246	(45,826)	24,701	(49,932)
Total other income (expense)	15,197	(51,344)	7,965	(64,878)
Earnings (loss) before income tax expense	38,380	(9,068)	15,926	5,286
Income tax expense	8,993	11,687	9,488	18,771
Net earnings (loss)	29,387	(20,755)	6,438	(13,485)
Net earnings attributable to noncontrolling interests	3,739	2,640	7,476	7,491
Net earnings (loss) attributable to Guess?, Inc.	$ 25,648	$ (23,395)	$ (1,038)	$ (20,976)
Net earnings (loss) per common share attributable to common stockholders:
Basic (in dollars per share)	$ 0.49	$ (0.46)	$ (0.03)	$ (0.42)
Diluted (in dollars per share)	$ 0.48	$ (0.47)	$ (0.03)	$ (0.42)
Weighted average common shares outstanding attributable to common stockholders:
Basic (in shares)	51,586	50,798	51,487	52,047
Diluted (in shares)	53,169	66,608	51,487	52,047
Product sales
Net revenue	$ 760,320	$ 705,507	$ 2,129,806	$ 1,971,920
Net royalties
Net revenue	$ 31,107	$ 33,011	$ 82,359	$ 91,101

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Nov. 01, 2025	Nov. 02, 2024
Cash flows from operating activities:
Net earnings (loss)	$ 6,438	$ (13,485)
Adjustments to reconcile net earnings (loss) to net cash used in operating activities:
Depreciation and amortization	54,762	51,114
Amortization of debt discount and issuance costs	4,464	4,065
Share-based compensation expense	17,402	13,855
Forward contract losses	3,932	256
Deferred income taxes	1,089	10,097
Net (gain) loss from impairment and disposition of long-term assets	13,878	(8,738)
Change in fair value remeasurement of derivatives related to convertible senior notes	(14,760)	41,795
Loss on extinguishment of debt	0	1,952
Other items, net	(11,948)	5,531
Changes in operating assets and liabilities:
Accounts receivable	18,725	(44,307)
Inventories	(84,502)	(168,571)
Prepaid expenses and other assets	16,289	(15,983)
Operating lease assets and liabilities, net	(1,222)	(5,243)
Accounts payable	(14,411)	53,653
Accrued expenses and other current liabilities	(34,219)	(3,307)
Other long-term liabilities	(13,873)	15,761
Net cash used in operating activities	(37,956)	(61,555)
Cash flows from investing activities:
Purchases of property and equipment	(60,277)	(63,552)
Proceeds from sale of long-lived assets	187	39,812
Business acquisition, net of cash acquired	(6,867)	(54,981)
Purchases of investments	(2,066)	(5,050)
Other investing activities	(2,772)	(1,562)
Net cash used in investing activities	(71,795)	(85,333)
Cash flows from financing activities:
Proceeds from borrowings	174,364	337,970
Repayments on borrowings and finance lease obligations	(61,616)	(126,076)
Repayments of convertible senior notes	0	(33,292)
Proceeds from issuance of warrant	0	3,665
Purchase of convertible note hedge	0	(6,538)
Proceeds from termination of convertible senior note hedge	0	1,347
Payments for termination of common stock warrant	0	(548)
Debt issuance costs	(168)	(2,811)
Dividends paid	(43,413)	(167,187)
Noncontrolling interest capital contributions	1,639	0
Noncontrolling interest capital distributions	(2,672)	(14,230)
Issuance of common stock, net of income tax withholdings on vesting of stock awards	971	6,379
Purchase of treasury stock	(328)	(60,656)
Net cash provided by (used in) financing activities	68,777	(61,977)
Effect of exchange rates on cash, cash equivalents and restricted cash	7,538	(9,098)
Net change in cash, cash equivalents and restricted cash	(33,436)	(217,963)
Cash, cash equivalents and restricted cash at the beginning of the year	188,492	360,285
Cash, cash equivalents and restricted cash at the end of the period	155,056	142,322
Supplemental cash flow data:
Interest paid	15,723	23,565
Income taxes paid, net of refunds	16,870	34,304
Non-cash investing and financing activity:
Change in accrual of property and equipment	(4,186)	754
Assets acquired under finance lease obligations	121	62
Exchange of 2024 Notes for 2028 Notes	$ 0	$ (16,658)

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Nov. 01, 2025	Feb. 01, 2025
Current assets:
Cash and cash equivalents	$ 154,236	$ 187,696
Accounts receivable, net	407,778	391,161
Inventories	692,266	562,649
Prepaid expenses	72,377	67,275
Other current assets	26,553	40,589
Total current assets	1,353,210	1,249,370
Property and equipment, net	249,515	240,114
Goodwill	35,629	33,157
Deferred income tax assets	187,291	171,818
Restricted cash	820	796
Operating lease right-of-use assets	927,868	839,879
Other assets	252,163	231,544
TOTAL ASSETS	3,006,496	2,766,678
Current liabilities:
Current portion of borrowings and finance lease obligations	26,710	40,948
Accounts payable	332,913	318,712
Accrued expenses and other current liabilities	289,189	294,700
Current portion of operating lease liabilities	183,094	176,972
Total current liabilities	831,906	831,332
Convertible senior notes due 2028, net	344,535	336,527
Long-term debt and finance lease obligations	299,542	150,668
Long-term operating lease liabilities	795,308	715,755
Other long-term liabilities	168,834	181,621
Total liabilities	2,440,125	2,215,903
Redeemable noncontrolling interests	444	368
Commitments and contingencies (Note 14)
Stockholders’ equity:
Preferred stock, $.01 par value. Authorized 10,000,000 shares; no shares issued and outstanding	0	0
Common stock, $.01 par value. Authorized 150,000,000 shares; issued 142,771,253 and 142,771,253 shares; outstanding 52,151,599 and 51,691,595 shares as of November 1, 2025 and February 1, 2025, respectively	522	517
Paid-in capital	617,295	605,036
Retained earnings	1,244,744	1,289,233
Accumulated other comprehensive loss	(129,694)	(159,196)
Treasury stock, 90,619,654 and 91,079,658 shares as of November 1, 2025 and February 1, 2025, respectively	(1,224,368)	(1,230,583)
Guess?, Inc. stockholders’ equity	508,499	505,007
Nonredeemable noncontrolling interests	57,428	45,400
Total stockholders’ equity	565,927	550,407
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 3,006,496	$ 2,766,678