Now, North America Retail was clearly a disappointment for us. We did not experience the result that we expected. The environment continued to be very promotional and with less profit, especially during the second half of the quarter. The summer months brought a sharp decrease in visitors from Europe in the store. Business in our tourist location and especially in accessory stores were the least performing in the chain. These contributed to a comp store sales that fell short of expectations.But regardless of traffic or tourist, the most challenging category continued to be accessories. We believe that our product line lacked value, key volume drivers and did not reflect the improvement we have made in the apparel line. We are committed to making the necessary change to reverse this trend and are working with our partner licensees to improve the product offering in our stores. In fact, the current handbag assortment in our stores is strong in my opinion and should improve the trend in that category for the holiday season and I am confident of that.
Guess? CEO Discusses F2Q 2013 Results - Earnings Call Transcript
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