Headlines

Guess to Close 50 Stores

Result of second quarter slump

Published

10 years ago

August 29, 2014

Sarah Whitman

Guess (Los Angeles) announced it will close 50 North American stores by year-end after a disappointing second quarter and signs of continuing struggles as the second half begins, reports Women’s Wear Daily.

“In addition to these 50 stores, 50 percent of our North American store base will come up for renewal in the next three and a half years, which will give us flexibility to optimize our real estate portfolio,” Guess co-founder and chief executive officer Paul Marciano said during a conference call with analysts Wednesday.

The jeanswear and sportswear company trimmed its U.S. fleet from 507 units to 488 one year ago.

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