Guess closed 123 retail stores in 2020
The US clothing retailer Guess reported that it closed 123 stores in 2020, to directly operate 1,046.
Overall, the company has reduced its dependence on a particular geographic region.
Thus, according to Guess, this geographic diversification provides ample long-term growth opportunities, even during regional economic downturns.
The percentage of your income generated outside of the United States has increased from approximately 32% of your total income for the year ended December 31, 2005 to about 74% of your total income for the year ended January 30, 2021.
At the end of January 2021, Guess (Guess?, Inc) directly operated 1,046 retail stores in America, Europe and Asia.
The company’s partners operated an additional 524 retail stores around the world.
In sum, as of January 30, 2021, Guess and its partners were operating in approximately 100 countries around the world.
The company continues to evaluate the different businesses in its global portfolio, directing capital investments towards those with the highest profit potential.
Guess
During fiscal 2021, the company made the decision to integrate its G by GUESS brand into its factory business to drive greater efficiencies.
For the year ended January 30, 2021, Guess opened a new store and closed 39 stores in America, ending the year with 395 stores.
This store count does not include 27 concessions in Mexico.
Guess directly operates its retail stores and concessions in Mexico and Brazil through its majority-owned joint ventures.
The company’s retail segment in the Americas also includes its retail websites and other websites operated directly in the United States, Canada, Mexico and Brazil.
These websites function as virtual storefronts that, combined with your retail stores, provide a consumer shopping experience to sell your products and promote your brands.
They also provide fashion information and a mechanism for customer feedback while promoting customer loyalty and enhancing our brand identity through interactive content.
The lines include entire clothing collections, including jeans, pants, skirts, dresses, sportswear, shorts, blouses, shirts, jackets, knitwear, and intimate apparel.
In addition, the company selectively licenses to design, manufacture and distribute a wide range of products that complement its apparel lines, including glasses, watches, wallets, footwear, children’s and baby apparel, outerwear, fragrances, jewelry and other fashion accessories.
