2013: a good year for Samsonite, not that good for Guess

Friday, 21 March 2014

It seems that 2013 was a good year for Samsonite, which closed the last twelve months with increased net profit of 176.09 million dollars, well ahead the 148.44 million dollars it recorded for the same period a year earlier.

"We are proud of our achievements. All geographical areas have grown constantly from the U.S. to China," said Chairman and CEO of the company, Tim Parker, in a statement, "but their impact on the 2014 accounts could be different."

However, Samsonite´s figures came in below analysts' estimates, who were expecting earnings of around 188.17 million dollars, as per data collated by Reuters. Annual net sales were up by 15 percent to 2.04 billion dollars.

Elsewhere, not that good news for Guess Inc. as the denim manufacturer noted a 14 percent decline in net profit for FY13. Guess reported a 3 percent increase in revenues to 2.6 billion dollars at current exchange rates for the fiscal year, ended February 1, 2014, while net profits fell 14 percent to 153.4 million dollars.

"In North America, the traffic into our stores as well as the overall promotional environment remains challenging, but we are excited by the momentum that we have gained in our e-commerce business. In Europe, we are encouraged by the trends we are seeing in our own property stores where same store sales were positive for the fourth quarter, although our European wholesale business is still under pressure in Southern Europe," summed up CEO Paul Marciano.

For the fourth quarter, the fashion retailer posted a net profit of 69.6 million dollars, down by 4 percent from the comparable period last year. Turnover also decreased, by 5.7 percent, to 768.4 million dollars.

"For fiscal year 2015, we still expect sales in our more developed businesses to be under pressure, especially in our own stores in North America and our European wholesale channel," advanced a confident Marciano.

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