Guess?, Inc. (GES)
Q4 2011 Earnings Conference Call
March 14, 2012 4:30 PM ET
Paul Marciano – Chief Executive Officer
Dennis Secor – Chief Financial Officer
Michael Prince – Chief Operating Officer
Shreya Jawalkar – Jefferies
Jeff Klinefelter – Piper Jaffray & Co.
Helena Tse – Bank of America Merrill Lynch
Omar Saad – ISI Group
Diana Katz – Lazard Capital Markets
Eric Beder – Brean Murray, Carret & Co.
David Glick – Buckingham Research Group
Dana Telsey – Telsey Advisory Group
Margaret Whitfield – Sterne, Agee & Leach
Susan Sansbury – Miller Tabak
John Kernan – Cowen and Company
Good day everyone, and welcome to the Guess? fourth quarter fiscal 2012 earnings conference call. On the call are Paul Marciano, Chief Executive Officer; Michael Prince, Chief Operating Officer; Dennis Secor, Chief Financial Officer; and Russell Bowers, Chief Financial Officer, North American Retail.
During today's call, the company will be making forward-looking statements, including comments regarding future plans and financial outlook. The company's actual results may differ materially from current expectations based on risk factors included in the company's quarterly, annual, and current reports filed with the SEC, including economic conditions, business strategies, results of litigation, tax and other similar proceedings and currency fluctuations.
I would now turn the presentation over to Paul Marciano.
Thank you, and good afternoon. We are pleased with our fourth quarter performance, extending our global business, and delivering record revenue even as a weak European economy continued to create headwinds for us.
We made significant progress in elevating the Guess? brand in North America Retail, where sales were up as we expanded profitability. In Asia, we gained shares with double-digit top line growth. Once again we focused on sound fundamental and solid execution. We manage our resources carefully, especially our inventories, for taking our brand throughout the holiday season, avoiding much of the massive discounting in the malls. All of that resulted in a solid financial performance, delivering earning per share of $1.05, which was within the level that we anticipate for the quarter.