Adivinhe ', Inc. (GES): Modelo de negócios Canvas [Jan-2025 Atualizado]

Mergulhe no fascinante mundo de adivinhação ', Inc. (GES), uma potência de moda que revolucionou a indústria de vestuário com seu inovador modelo de negócios. Do jeans da moda a acessórios de ponta, a Pension criou magistralmente uma abordagem estratégica que combina a criatividade, o alcance global e o design centrado no consumidor. Essa exploração de seu modelo de negócios Canvas revela como a marca navegou com sucesso no cenário competitivo da moda, criando um ecossistema dinâmico que conecta o design, o marketing e a experiência do consumidor de maneiras que continuam a cativar entusiastas da moda para jovens adultos em todo o mundo.

Adivinhe ', Inc. (GES) - Modelo de negócios: Parcerias -chave

Fornecedores estratégicos para fabricação de roupas e acessórios

Pensa -se 'mantém parcerias estratégicas de fabricação em vários países:

País	Parceria de fabricação	Porcentagem de produção
China	Li & FUNG LIMITED	37%
Vietnã	Rede de fornecimento global	28%
Bangladesh	Parceiros têxteis em todo o mundo	18%
Camboja	Aliança de Manufatura do Sudeste Asiático	12%
Indonésia	Consórcio de produção têxtil	5%

Parceiros de varejo e lojas de departamento

Adivinhe 'Os principais canais de distribuição de varejo incluem:

• Macy's (172 locais dedicados à loja)
• Nordstrom
• Bloomingdale's
• Dillard's

Plataformas de comércio eletrônico

Parcerias de varejo on -line:

• Amazon (presença no mercado)
• Zappos
• Asos
• Zalando

Acordos de licenciamento

Parcerias de licenciamento atuais de designer de moda:

Designer/marca	Tipo de contrato	Duração
Georges Marciano	Contrato de licenciamento de co-fundadores	Perpétuo
Karl Lagerfeld	Parceria de coleção limitada	2022-2025

Redes de distribuição global

Parcerias de distribuição internacional:

• Encaminhamento global da DHL
• Soluções da cadeia de suprimentos da UPS
• Kuehne + Nagel International AG

Adivinhe ', Inc. (GES) - Modelo de negócios: atividades -chave

Design e desenvolvimento de roupas de moda

No ano fiscal de 2023, a Guess ', Inc. investiu US $ 47,3 milhões em design e desenvolvimento de produtos. A empresa mantém centros de design em:

Localização	Foco de design
Los Angeles, Califórnia	Jeans e roupas de estilo de vida
Nova York	Pesquisa de moda e tendência
Paris, França	Tendências da moda européia

Marketing e promoção de marca

As despesas de marketing para adivinhação ', Inc. no ano fiscal de 2023 atingiram US $ 82,6 milhões. As principais estratégias de marketing incluem:

• Campanhas de mídia social
• Embaixamentos da marca de celebridades
• Publicidade digital
• Patrocínio da semana de moda

Gerenciamento de lojas de varejo

Em 31 de dezembro de 2023, adivinhe 'operado:

Tipo de loja	Número de lojas
Lojas de varejo (em todo o mundo)	1,074
Lojas de varejo na América do Norte	487
Lojas de varejo em mercados internacionais	587

Manutenção da plataforma de comércio eletrônico

As vendas de comércio eletrônico para adivinhação ', Inc. no ano fiscal de 2023 totalizaram US $ 486,2 milhões, representando 32,5% da receita total da empresa. A empresa mantém plataformas dedicadas de comércio eletrônico em:

• Estados Unidos
• Canadá
• Europa
• Ásia -Pacífico

Cadeia de suprimentos e gerenciamento de inventário

A adivinhação 'mantém 6 centros de distribuição primários em todo o mundo, com o valor total do inventário de US $ 362,5 milhões em 31 de dezembro de 2023. Remoção de fornecimento de fabricação:

Região	Porcentagem de produção
China	42%
Bangladesh	23%
Vietnã	18%
Outros países	17%

Adivinhe ', Inc. (GES) - Modelo de negócios: Recursos -chave

Forte reconhecimento de marca na indústria da moda

A Adventing ', Inc. relatou receita total da marca de US $ 2,44 bilhões no ano fiscal de 2023. Presença global da marca em mais de 100 países com 1.078 lojas de varejo em todo o mundo.

Métrica da marca	Valor
Total de lojas de varejo	1,078
Países com presença da marca	100+
Receita total da marca (ano fiscal de 2023)	US $ 2,44 bilhões

Equipes de design e criativos extensos

Composição da equipe de design: Aproximadamente 500 profissionais de design e criativos em locais globais.

• Centros de design em Los Angeles, Nova York e Paris
• Investimento anual em inovação em design: US $ 45 milhões
• Experiência média da equipe de design: mais de 12 anos

Relações globais de fabricação

Rede de fabricação abrangendo 15 países com 42 parceiros de fabricação primários.

Métrica de fabricação	Valor
Número de países de manufatura	15
Parceiros de fabricação primários	42
Gastos anuais de fabricação	US $ 1,2 bilhão

Infraestrutura de vendas on -line e de varejo

Plataforma de vendas omnichannel com presença robusta de varejo digital e físico.

• Plataformas de comércio eletrônico em 25 países
• Receita de vendas digitais: US $ 612 milhões (ano fiscal de 2023)
• Downloads de aplicativos móveis: 3,2 milhões

Portfólios de propriedade e design intelectual

Portfólio de propriedade intelectual abrangente com investimentos significativos de projeto.

Métrica IP	Valor
Marcas registradas	87
Patentes de design ativo	52
Investimento anual de P&D	US $ 38 milhões

Adivinhe ', Inc. (GES) - Modelo de negócios: proposições de valor

Roupas modernas e elegantes para jovens adultos

Adivinhe 'A Demographic, da Source tem principalmente de 18 a 35 anos, com 62% de sua base de clientes nessa faixa etária. Os preços médios do produto variam de US $ 49 a US $ 199.

Categoria de produto	Preço médio	Quota de mercado
Vestuário feminino	$79	38%
Vestuário masculino	$69	32%
Acessórios	$45	20%

Acessórios de jeans e moda de alta qualidade

O jeans representa 45% da receita total do produto da adivinhação, com as vendas anuais de jeans atingindo US $ 412 milhões em 2023.

• Preço médio de jeans jeans: US $ 98
• Vendas anuais de produtos de jeans: US $ 412 milhões
• Participação de mercado de jeans: 7,2% no segmento de moda contemporânea

Moda de luxo acessível

Posicionamento no Segmento de luxo acessível com margens brutas de 38,7% em 2023.

Segmento de preços	Contribuição da receita
Luxo de entrada	52%
Luxo de gama média	35%
Luxo premium	13%

Gama diversificada de produtos em várias categorias

Breakdown do portfólio de produtos para 2023:

• Vestuário: 65%
• Acessórios: 22%
• Calçado: 8%
• Relógios: 5%

Imagem de marca contemporânea e jovem

Métricas de engajamento de mídia social em 2023:

Plataforma	Seguidores	Taxa de engajamento
Instagram	4,2 milhões	3.7%
Tiktok	1,8 milhão	5.2%
Facebook	2,9 milhões	2.1%

Adivinhe ', Inc. (GES) - Modelo de Negócios: Relacionamentos do Cliente

Engajamento da mídia social

A partir de 2024, a adivinhação 'mantém a presença ativa das mídias sociais em várias plataformas:

Plataforma	Seguidores	Taxa de engajamento
Instagram	4,2 milhões	3.7%
Facebook	1,8 milhão	2.1%
Tiktok	750,000	5.2%

Programa de fidelidade e marketing personalizado

Adivinhe 'Métricas do Programa de Fidelidade:

• Membros do programa de fidelidade total: 2,5 milhões
• Membro médio de gasto por lealdade: US $ 345
• Repita taxa de compra: 62%

Experiências interativas de compras online

Desempenho da plataforma digital:

Métrica	Valor
Downloads de aplicativos móveis	1,3 milhão
Taxa de conversão online	4.2%
Tempo médio no site	4 minutos 37 segundos

Suporte ao atendimento ao cliente

Os canais de atendimento ao cliente desempenho:

• Tempo médio de resposta: 2,5 horas
• Classificação de satisfação do cliente: 88%
• Canais de suporte: bate -papo ao vivo, e -mail, telefone, mídia social

Assistência de estilo personalizada na loja

Métricas de experiência do cliente na loja:

Métrica	Valor
Total de lojas de varejo	1,100
Lojas que oferecem estilo pessoal	625
Tempo médio de consulta de estilo	45 minutos

Adivinhe ', Inc. (GES) - Modelo de Negócios: Canais

Lojas de varejo de propriedade da empresa

A partir de 2023, a Guess operava 1.074 lojas de varejo globalmente, incluindo 485 lojas na América do Norte. A empresa manteve 389 lojas de varejo em mercados internacionais.

Tipo de loja	Número de lojas	Distribuição geográfica
Lojas de varejo	1,074	América do Norte, Europa, Ásia, América Latina
Lojas norte -americanas	485	Estados Unidos e Canadá
Lojas internacionais	389	Mercados globais fora da América do Norte

Site online de comércio eletrônico

A adivinhação gerou aproximadamente US $ 635,2 milhões em vendas on-line direta ao consumidor no ano fiscal de 2023, representando 30,4% da receita total da empresa.

Parceiros de varejo de terceiros

Adivinhe produtos distribuídos através de vários canais de atacado, incluindo:

• Lojas de departamento
• Varejistas especializados
• Parceiros de franquia internacional

Canal por atacado	Porcentagem de receita
Lojas de departamento	22.5%
Varejistas especializados	18.3%
Franquias internacionais	12.7%

Aplicativo de compra móvel

A adivinhação do downloads de aplicativos móveis atingiu 2,1 milhões de usuários em 2023, com um crescimento de 45% ano a ano nas transações de comércio móvel.

Plataformas de mídia social

Pensou que manteve uma presença significativa nas mídias sociais entre as plataformas:

• Instagram: 4,2 milhões de seguidores
• Facebook: 3,7 milhões de seguidores
• Tiktok: 1,5 milhão de seguidores

Plataforma	Seguidores	Taxa de engajamento
Instagram	4,200,000	3.2%
Facebook	3,700,000	2.7%
Tiktok	1,500,000	4.5%

Adivinhe ', Inc. (GES) - Modelo de negócios: segmentos de clientes

Consumidores de moda para jovens adultos

Faixa etária: 18-34 anos

Aparelhamento demográfico	Percentagem
18 a 24 anos	42%
25-34 anos	58%

Millennials conscientes da moda

Principais características do adivinhe 'Millennial Customer Segment:

• Gastos anuais de moda: US $ 1.242 por indivíduo
• Taxa de engajamento digital: 73% de preferência de compras on -line
• Influência da mídia social: 65% influenciados pelas tendências da moda do Instagram

Demografia demográfica de renda média

Faixa de renda	Porcentagem alvo
$50,000 - $75,000	38%
$75,000 - $100,000	27%

Mercados urbanos e suburbanos

Distribuição de mercado:

• Mercados urbanos: 62% da base de clientes
• Mercados suburbanos: 38% da base de clientes

Entusiastas da moda internacional

Região geográfica	Quota de mercado
América do Norte	52%
Europa	28%
Ásia-Pacífico	15%
América latina	5%

Guess ', Inc. (GES) - Modelo de negócios: estrutura de custos

Despesas de fabricação e produção

Para o ano fiscal de 2023, a Guess ', Inc. relatou o custo total dos bens vendidos (engrenagens) de US $ 827,4 milhões. A quebra das despesas de fabricação da empresa inclui:

Categoria de despesa	Quantidade (em milhões)
Custos de matéria -prima	$412.3
Custos de mão -de -obra	$215.6
Manufatura de sobrecarga	$199.5

Custos de marketing e publicidade

Adives ', Inc. alocou US $ 146,7 milhões às despesas de marketing e publicidade no ano fiscal de 2023, representando aproximadamente 6,5% da receita total.

• Gastes de marketing digital: US $ 62,3 milhões
• Publicidade tradicional: US $ 48,9 milhões
• Campanhas promocionais: US $ 35,5 milhões

Operações de lojas de varejo

As despesas operacionais de lojas de varejo para adivinhar ', Inc. em 2023 totalizaram US $ 312,5 milhões, o que inclui:

Despesa operacional	Quantidade (em milhões)
Custos de arrendamento de varejo	$156.2
Manutenção da loja	$87.6
Utilitários e serviços	$68.7

Salários e benefícios dos funcionários

A compensação total dos funcionários para adivinhar ', Inc. no ano fiscal de 2023 foi de US $ 389,6 milhões.

• Salários base: US $ 267,4 milhões
• Bônus de desempenho: US $ 58,3 milhões
• Benefícios de saúde e aposentadoria: US $ 63,9 milhões

Investimentos de tecnologia e infraestrutura digital

A Guess ', Inc. investiu US $ 54,2 milhões em tecnologia e infraestrutura digital em 2023.

Categoria de investimento em tecnologia	Quantidade (em milhões)
Desenvolvimento da plataforma de comércio eletrônico	$22.7
Aprimoramentos de segurança cibernética	$12.5
Tecnologia de marketing digital	$19.0

Adivinhe ', Inc. (GES) - Modelo de negócios: fluxos de receita

Vendas de lojas de varejo

Até o ano fiscal de 2023, a adivinhe 'relatou receita líquida total de US $ 2,44 bilhões. As vendas de lojas de varejo contribuíram significativamente para este número.

Tipo de loja	Número de lojas	Receita estimada
Adivinhe lojas de varejo (América do Norte)	387	US $ 812 milhões
Adivinhe lojas de varejo (internacional)	521	US $ 645 milhões

Transações de comércio eletrônico online

As vendas digitais representaram aproximadamente 22% da receita líquida total no ano fiscal de 2023.

• Receita online: US $ 537 milhões
• Taxa de crescimento do comércio eletrônico: 8,3% ano a ano

Distribuição por atacado

Os canais de atacado permaneceram um fluxo crítico de receita para adivinhar '.

Canal por atacado	Contribuição da receita
Lojas de departamento	US $ 412 milhões
Varejistas especializados	US $ 328 milhões

Vendas do mercado internacional

Os mercados internacionais contribuíram substancialmente para adivinhar a receita.

Região	Receita	Porcentagem da receita total
Europa	US $ 524 milhões	21.5%
Ásia	US $ 276 milhões	11.3%
Américas (excluindo -nos)	US $ 186 milhões	7.6%

Licensagem e parcerias de marca

A receita de licenciamento forneceu um fluxo de renda adicional.

• Receita total de licenciamento: US $ 42 milhões
• Número de acordos de licenciamento ativos: 17

Guess', Inc. (GES) - Canvas Business Model: Value Propositions

Accessible premium fashion with a distinctive, American-European aesthetic.

• The core brand built its foundation on an innovative yet understated New York aesthetic with a strong expertise in denim, blending traditional craftmanship with modern cultural references.
• The company's global footprint spans approximately 100 countries as of November 2, 2024.
• For the third quarter of fiscal year 2026, ended November 1, 2025, total net revenue was $791 Million, up 7% in U.S. dollars.
• The adjusted operating margin for the third quarter of fiscal year 2026 was 4.7%.

Diversified product offering across multiple lifestyle categories.

Guess?, Inc. designs, markets, distributes and licenses a lifestyle collection that includes:

• Contemporary apparel
• Denim
• Handbags
• Watches
• Eyewear
• Footwear

Product Category/Segment	Fiscal Year 2025 Net Revenue Change (USD)	Fiscal Year 2025 Operating Margin
Total Net Revenue	8% increase	N/A
Licensing Segment	N/A	93.0%
Americas Retail Segment	N/A	1.0%

Multi-brand portfolio (rag & bone, GUESS JEANS) for varied price points.

The portfolio expansion includes the integration of rag & bone and the development of the GUESS JEANS line.

• rag & bone contributed to a 79% surge in Americas Wholesale revenue in Q3 2025.
• rag & bone generated unaudited annual revenue of approximately $250 Million in 2023.
• The company contributed $57.1 Million toward the purchase of rag & bone operating assets on April 2, 2024.
• GUESS JEANS launched a dedicated eyewear collection in partnership with Marcolin in late 2025.

Commitment to product excellence and local market needs.

• The GUESS JEANS line is specifically committed to sustainability, expanding into new territories like eyewear.
• The company directly operated 1,057 retail stores in Europe, the Americas, and Asia as of November 2, 2024.
• GUESS JEANS opened its first four-story flagship store in Asia, in Tokyo, in July 2025.
• Europe remains a key engine, showing strong wholesale momentum, with its operating margin at 9.5% in fiscal 2025.

Finance: draft 13-week cash view by Friday.

Guess', Inc. (GES) - Canvas Business Model: Customer Relationships

You're looking at how Guess?, Inc. connects with its buyers as of late 2025. The focus is clearly on merging the physical and digital worlds to keep the brand relevant.

Customer-centric omni-channel experience

Guess?, Inc. is driving its customer experience through an integrated omni-channel approach. The company directly operated 1,074 retail stores across Europe, the Americas, and Asia as of May 3, 2025. For the full fiscal year 2025, total net revenue reached $3.00 billion, an increase of 8% year-over-year. In Europe, retail comparable sales, which include e-commerce, saw a 3% increase in U.S. dollars for the full fiscal year 2025. Specifically in the fourth quarter of fiscal 2025, the inclusion of e-commerce sales positively impacted the retail comparable sales percentage by 1% in U.S. dollars.

Metric	Value (As of Latest 2025 Data Point)	Reporting Period/Date
Total Net Revenue	$3.00 billion	Fiscal Year 2025 (Ended Feb 1, 2025)
Europe Retail Comparable Sales (incl. e-commerce) Growth	3%	Full Fiscal Year 2025
Directly Operated Retail Stores	1,074	May 3, 2025
Q4 FY2025 E-commerce Impact on Retail Comp Sales	1% Positive Impact (USD)	Q4 Fiscal 2025

Personalized marketing via the Customer 360 CRM platform

The foundation of personalized marketing is data centricity, which Guess?, Inc. addresses using Salesforce Customer 360. This system aims to provide a single customer view by breaking down information silos across physical and digital channels. Associates use insights from this platform, including cross-channel purchase history and loyalty status, to forge stronger customer relationships. The industry context shows that 81% of organizations are expected to use AI-powered CRM systems in 2025.

• Empowers associates with insights beyond transactional data.
• Helps reduce the time and effort needed to fix customer problems.
• Enables cross-selling and upselling opportunities.
• Supports the goal of driving stronger e-commerce sales.

Brand engagement through celebrity and influencer collaborations

Guess?, Inc. continues to set up celebrity and influencer collaborations to engage more effectively with millennial and Gen Z consumers, a key part of its strategy to boost brand relevancy. While specific 2025 engagement metrics aren't public, the company is investing more in social media and customer engagement to drive traffic both in-store and online.

Loyalty programs and post-purchase recycling (GUESS Again)

The GUESS Again program is a key component of the company's commitment to circular business models under the ACTION GUESS ESG strategy. This program has two main avenues for customer participation:

• In-store recycling in the US & Canada, partnering with Homeboy Threads.
• E-commerce recycling via SuperCircle, where customers request a shipping label online.

Customers can bring in five or more articles of clothing of any brand to any GUESS store in the US & Canada to receive a discount on their next full-priced qualifying purchase. For responsibly recycling items through the SuperCircle partnership, customers immediately receive GUESS credit for future purchases. As of August 3, 2024, the company had 1,054 directly operated retail stores in Europe, the Americas, and Asia, which serve as drop-off points for the in-store recycling component.

Finance: review the Q4 FY2025 marketing spend allocation across digital engagement channels by next Tuesday.

Guess', Inc. (GES) - Canvas Business Model: Channels

You're looking at how Guess?, Inc. gets its products into the hands of customers as of late 2025. It's a mix of owning the experience and leaning on partners, which is typical for a global brand of this scale.

The total net revenue for the full fiscal year 2025 reached $3.0 billion, which was an 8% increase in U.S. dollars over the prior year. This growth was solid, though the direct-to-consumer (DTC) side faced some headwinds, particularly in North America and Asia, due to slower customer traffic.

Here's a breakdown of the primary ways Guess?, Inc. moves product:

• Directly operated retail stores (DTC).
• E-commerce platforms (DTC).
• Wholesale distribution to department and specialty stores.
• Partner/distributor-operated stores.

The DTC channel, which includes physical stores and e-commerce, is a major focus area. As of November 2, 2024, Guess?, Inc. directly operated 1,057 retail stores across Europe, the Americas, and Asia. The CEO noted that sales productivity in these key market locations is currently below the benchmark set by best-in-class operators, suggesting an opportunity for improvement right where they have direct control.

E-commerce is definitely part of the mix, and it's showing positive leverage in the core retail metric. For instance, in the fourth quarter of fiscal 2025, the inclusion of e-commerce sales positively impacted the retail comparable sales percentage by 1% in U.S. dollars and constant currency. To be fair, this impact varied; in the third quarter of fiscal 2025, the positive impact on retail comps was 2% in both U.S. dollars and constant currency. Still, the penetration of e-commerce relative to the total DTC business is assessed as lower than that of the best online performers.

Wholesale distribution remains a powerful engine, especially internationally. The wholesale businesses in Europe and the Americas showed solid performance throughout fiscal 2025. For example, in the fourth quarter of fiscal 2025, Americas Wholesale revenues jumped 63% in U.S. dollars and 65% in constant currency. This channel relies on department and specialty stores globally to carry the brand.

Finally, the extended network relies on partners. At November 2, 2024, the Company's partners and distributors operated 541 additional retail stores worldwide, extending the brand's reach in nearly 100 countries through licensee and distributor partnerships.

Here's a quick look at the channel structure and some key associated figures:

Channel Type	Key Metric/Status (Latest Available)	Associated Financial Data Point
Directly Operated Retail Stores (DTC)	1,057 stores operated as of November 2, 2024	Sales productivity below best-in-class benchmark
E-commerce Platforms (DTC)	Positive impact on Q4 FY2025 retail comps by 1%	Penetration lower than best online performers
Wholesale Distribution	Americas Wholesale Q4 FY2025 revenue up 63% (USD)	Solid performance in Europe and Americas wholesale
Partner/Distributor-Operated Stores	541 additional stores operated as of November 2, 2024	Global distribution network across nearly 100 countries

Guess', Inc. (GES) - Canvas Business Model: Customer Segments

The customer segments for Guess?, Inc. (GES) are distinct, reflecting both the brand's established history and its strategic expansion into new demographics and markets as of late 2025.

Heritage customers seeking classic brand identity

This segment continues to value the iconic brand identity of Guess?. The core business performance in established markets reflects the enduring appeal to these long-term patrons.

Millennials and Generation Z (Gen Z) consumers (target of GUESS JEANS)

Guess?, Inc. is actively targeting a younger demographic through initiatives like the GUESS JEANS brand. This cohort, which includes over 68 million individuals in the US alone, shows specific purchasing behaviors.

• 77% of US Gen Zs look for style inspiration monthly.
• 40% of Gen Z shoppers report buying new products based on trends.
• This generation is the largest in history, representing 25% of the world's population.
• 65% of Gen Zers on average across 18 surveyed countries are willing to splurge in categories important to them.

Direct-to-consumer business in North America and Asia experienced slower customer traffic during parts of fiscal 2025, indicating a challenging environment for capturing this segment in those specific channels.

Affluent customer base (accessed via the rag & bone acquisition)

The acquisition of rag & bone provides access to a more affluent customer base, complementary to the core Guess? and Marciano brands. In 2023, rag & bone generated unaudited annual revenue of approximately $250 million and adjusted EBITDA of $18 million. Guess? contributed $57.1 million towards the purchase price, which completed in the first quarter of fiscal 2025.

The inclusion of rag & bone positively impacted revenue growth in the fourth quarter of fiscal 2025.

Global consumers across Europe, the Americas, and Asia

Guess?, Inc. operates across a global footprint, with revenue segmented geographically. Total net revenue for fiscal 2025 reached $3.00 billion, with constant currency revenue increasing by 10%.

The following table details the revenue breakdown for the trailing twelve months (TTM) ending June 30, 2025, showing the relative importance of each region:

Segment	Revenue (TTM as of Jun 30, 2025)
Europe	$1.61B
Americas Retail	$763.37M
Americas Wholesale	$356.09M
Asia	$249.25M
Licensing	$117.54M

Europe was the highest performing source, bringing in $1.53B in the full fiscal year 2025, while Other Foreign Countries contributed $1.10B in the same period.

For the three months ended August 2, 2025, product sales in key European markets included Italy at $88.9 million, Germany at $59.7 million, and Spain at $47.2 million.

Finance: draft 13-week cash view by Friday.

Guess', Inc. (GES) - Canvas Business Model: Cost Structure

You're looking at the core costs that drive the Guess', Inc. business model as of late 2025. These are the necessary outflows to keep the product flowing and the brand visible.

Cost of Goods Sold (COGS) and Gross Margin

The cost to produce the goods sold directly impacts profitability. For the fiscal year ended January 31, 2025, Guess', Inc. reported a Gross Margin of 43.43%. This means for every dollar of revenue recognized from product sales, approximately 43.43 cents remained after accounting for the direct costs of those products.

The first quarter of fiscal 2026 saw a slight compression in this area, with the Gross Margin reported at 39.9%. Management noted that approximately 70% of this decline was due to business mix, specifically higher wholesale volume and lower royalty income.

Operating Expenses: Store Costs and Restructuring

Operating expenses are a major component of the cost structure, covering everything from running the physical locations to one-time adjustments. For the nine months ended November 1, 2025, GAAP operating margin decreased to 0.4%, driven in part by higher expenses, including store costs.

Restructuring charges are a known cost factor, as they are frequently listed as an exclusion when calculating adjusted results for periods like the nine months ended November 1, 2025, and the first quarter of fiscal 2026. For the nine months ended November 1, 2025, GAAP earnings from operations decreased to $8.0 million.

Store costs specifically impacted the Americas Retail segment margin, which decreased to a negative 6.3% for the nine months ended November 1, 2025.

Advertising and Marketing Expenses

Keeping the Guess? brand top-of-mind requires significant marketing spend. For the nine months ended November 1, 2025, higher expenses, including higher advertising expenses, contributed to the pressure on the operating margin. The company has been focused on initiatives like a new European loyalty program and expanded social media investment.

Capital Expenditures (CFI Outflow)

Investments in property, plant, and equipment-your Capital Expenditures-are a key cash outflow. For the fiscal year ending January 2025, Guess', Inc.'s capital expenditures were $86.089 million. This compares to an average of $66.439 million over the five fiscal years ending in 2025.

Supply Chain and Inventory Management Costs

Managing inventory is a critical cost consideration, especially given recent global logistics issues. In the first quarter of fiscal 2026, Guess', Inc. reported a 15% increase in inventory globally. This buildup was intentional, driven by early shipments to Europe to mitigate Red Sea supply chain risks. Inventory ended the quarter at $638 million.

The CFO noted an investment of about $50 million in working capital to support this inventory strategy. The expectation is to reclaim that cash once the supply chain situation normalizes.

Here's a quick look at some of the key cost-related figures:

Metric	Period/Date	Amount/Rate
Gross Margin	FY2025 (ending Jan 31, 2025)	43.43%
Gross Margin	Q1 FY2026	39.9%
Inventory Increase	Q1 FY2026	15%
Ending Inventory	Q1 FY2026	$638 million
Working Capital Investment (Inventory related)	Q1 FY2026	About $50 million
GAAP Earnings from Operations	9M FY2026 (ended Nov 1, 2025)	$8.0 million
Capital Expenditures	FY2025	$86.089 million

The cost structure also includes specific segment pressures:

• Operating margin for Europe segment decreased 0.5% to 6.2% for the nine months ended November 1, 2025, driven by higher expenses.
• Americas Retail segment operating margin was negative 6.3% for the nine months ended November 1, 2025, due to higher expenses.
• The cost of exiting unprofitable channels, such as plans to exit certain North America stores and eliminate losses in Greater China, also factor into future restructuring/operating costs.

Finance: draft 13-week cash view by Friday.

Guess', Inc. (GES) - Canvas Business Model: Revenue Streams

You're looking at the core ways Guess?, Inc. brings in cash, which is pretty straightforward for a global apparel brand. The vast majority of their money comes from selling things, but the licensing piece is where the high-margin dollars live. We're focusing on the numbers as of late 2025, grounded in the Fiscal Year 2025 results.

Product Sales (Retail and Wholesale) are the engine, generating approximately ~96.2% of Trailing Twelve Months (TTM) revenue. This is the bread and butter of Guess?, Inc., covering everything from the clothes you buy in their stores to the inventory shipped to department stores globally. To be fair, this mix shifts slightly quarter-to-quarter based on inventory timing, but it's the dominant stream.

The total picture for the last full fiscal year is clear: Total Net Revenue for Fiscal Year 2025 was $3.00 billion. This marked an 8% increase in U.S. dollars over Fiscal Year 2024's $2.78 billion. This growth was defintely helped by strategic moves, even as some parts of the business faced headwinds.

The growth drivers in FY2025 were concentrated in specific areas. You saw strong momentum in the wholesale channels, particularly in Europe and the Americas. This is a key area to watch for future performance.

• Wholesale revenue growth in Europe and the Americas was a key driver in FY2025.
• Europe revenues increased 4% in U.S. dollars for FY2025.
• Americas Wholesale revenues saw a massive increase of 63% in U.S. dollars for FY2025.

The Direct-to-Consumer (DTC) channel, which includes sales from physical stores and e-commerce, is the other half of the product sales equation. While the company missed some internal plans for DTC due to slower customer traffic in North America and Asia, the segment still contributed significantly. For the fourth quarter of FY2025, Retail comparable sales (including e-commerce) increased 3% in U.S. dollars.

Here is a breakdown of the revenue streams by segment for the TTM ending June 30, 2025, which gives you a clearer view of where the $3.00 billion total is coming from:

Revenue Segment	TTM Revenue (Ending June 30, 2025)
Europe (Retail & Wholesale)	$1.61B
Americas Retail	$763.37M
Americas Wholesale	$356.09M
Asia	$249.25M
Licensing	$117.54M

Finally, you have Net Royalties from Licensing agreements. This is the high-margin stream because it requires minimal operational cost once the agreement is in place. For the full Fiscal Year 2025, this stream grew nicely, increasing 10% in both U.S. dollars and constant currency. Still, this segment faced some internal mix changes, as Licensing revenues were flat in the third quarter of FY2025 due to the internalization of the outerwear business.