Guess?, Inc. (NYSE:GES) Q1 2025 Earnings Conference Call May 31, 2024 4:45 PM ET

Company Participants

Fabrice Benarouche - Senior Vice President of Finance and Investor Relations and Chief Accounting Officer
Carlos Alberini - Chief Executive Officer
Markus Neubrand - Chief Financial Officer

Conference Call Participants

Mauricio Serna - UBS
Eric Beder - Small Cap Consumer Research

Operator

Good day, everyone, and welcome to the Guess?’ First Quarter Fiscal 2025 Earnings Conference Call.

I would like to turn the call over to Fabrice Benarouche, Senior Vice President of Finance and Investor Relations and Chief Accounting Officer. Please go ahead.

Fabrice Benarouche

Thank you, operator. Good afternoon, everyone, and thank you for joining us today. On the call today with me are Carlos Alberini, Chief Executive Officer; and Markus Neubrand, Chief Financial Officer.

During today’s call, the company will be making forward-looking statements, including comments regarding future plans, strategic initiatives, capital allocation and short and long-term outlooks. The company’s actual results may differ materially from current expectations based on risk factors included in today’s press release and the company’s quarterly and annual reports filed with the SEC. Comments will also reference certain non-GAAP or adjusted measures. GAAP reconciliations and description of these measures can be found in today’s earnings release.

Now, I will turn it over to, Carlos.

Carlos Alberini

Thank you, Fabrice, and thank you all for joining us for our Q1 fiscal 2025 quarterly conference call.

The year is off to a strong start, and we are pleased to report significant progress against a number of important operational, strategic and financial objectives. From an operational and financial perspective, our teams executed well during the quarter, which enabled us to deliver results for the first quarter that exceeded our expectations in terms of revenues, operating earnings and per share results. We grew sales in each of our segments and expanded gross margins, both of which favorably impacted the bottom line.

On the strategic front, we are excited to have completed our company’s first ever acquisition. We launched a new brand Guess Jeans, secured the renewal of a key licensing agreement and transformed our U.S. distribution function. We also made great strides to further strengthen our financial foundation and deliver value for our shareholders, including rewarding them with a special dividend, refinancing and repaying our 2024 convertible notes and obtaining an expanded credit facility. Markus will share more on these financial highlights in just a few minutes. And, we achieved all of this in just a little more than two months since we last spoke.