ges-20211030
GUESS INC0000912463false2022Q3--01-29P3Y364364364http://fasb.org/us-gaap/2021-01-31#PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortizationhttp://fasb.org/us-gaap/2021-01-31#PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortizationhttp://fasb.org/us-gaap/2021-01-31#LongTermDebtAndCapitalLeaseObligationsCurrenthttp://fasb.org/us-gaap/2021-01-31#LongTermDebtAndCapitalLeaseObligationsCurrenthttp://fasb.org/us-gaap/2021-01-31#LongTermDebtAndCapitalLeaseObligationshttp://fasb.org/us-gaap/2021-01-31#LongTermDebtAndCapitalLeaseObligationsP1Y0.0387879P2Y00009124632021-01-312021-10-3000009124632021-11-29xbrli:shares00009124632021-10-30iso4217:USD00009124632021-01-30iso4217:USDxbrli:shares0000912463us-gaap:ProductMember2021-08-012021-10-300000912463us-gaap:ProductMember2020-08-022020-10-310000912463us-gaap:ProductMember2021-01-312021-10-300000912463us-gaap:ProductMember2020-02-022020-10-310000912463us-gaap:RoyaltyMember2021-08-012021-10-300000912463us-gaap:RoyaltyMember2020-08-022020-10-310000912463us-gaap:RoyaltyMember2021-01-312021-10-300000912463us-gaap:RoyaltyMember2020-02-022020-10-3100009124632021-08-012021-10-3000009124632020-08-022020-10-3100009124632020-02-022020-10-3100009124632020-02-0100009124632020-10-310000912463us-gaap:CommonStockMember2021-01-300000912463us-gaap:AdditionalPaidInCapitalMember2021-01-300000912463us-gaap:RetainedEarningsMember2021-01-300000912463us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-300000912463us-gaap:TreasuryStockMember2021-01-300000912463us-gaap:NoncontrollingInterestMember2021-01-300000912463us-gaap:RetainedEarningsMember2021-01-312021-05-010000912463us-gaap:NoncontrollingInterestMember2021-01-312021-05-0100009124632021-01-312021-05-010000912463us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-312021-05-010000912463us-gaap:CommonStockMember2021-01-312021-05-010000912463us-gaap:AdditionalPaidInCapitalMember2021-01-312021-05-010000912463us-gaap:TreasuryStockMember2021-01-312021-05-010000912463us-gaap:CommonStockMember2021-05-010000912463us-gaap:AdditionalPaidInCapitalMember2021-05-010000912463us-gaap:RetainedEarningsMember2021-05-010000912463us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-05-010000912463us-gaap:TreasuryStockMember2021-05-010000912463us-gaap:NoncontrollingInterestMember2021-05-0100009124632021-05-010000912463us-gaap:RetainedEarningsMember2021-05-022021-07-310000912463us-gaap:NoncontrollingInterestMember2021-05-022021-07-3100009124632021-05-022021-07-310000912463us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-05-022021-07-310000912463us-gaap:CommonStockMember2021-05-022021-07-310000912463us-gaap:AdditionalPaidInCapitalMember2021-05-022021-07-310000912463us-gaap:TreasuryStockMember2021-05-022021-07-310000912463us-gaap:CommonStockMember2021-07-310000912463us-gaap:AdditionalPaidInCapitalMember2021-07-310000912463us-gaap:RetainedEarningsMember2021-07-310000912463us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-07-310000912463us-gaap:TreasuryStockMember2021-07-310000912463us-gaap:NoncontrollingInterestMember2021-07-3100009124632021-07-310000912463us-gaap:RetainedEarningsMember2021-08-012021-10-300000912463us-gaap:NoncontrollingInterestMember2021-08-012021-10-300000912463us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-08-012021-10-300000912463us-gaap:CommonStockMember2021-08-012021-10-300000912463us-gaap:AdditionalPaidInCapitalMember2021-08-012021-10-300000912463us-gaap:TreasuryStockMember2021-08-012021-10-300000912463us-gaap:CommonStockMember2021-10-300000912463us-gaap:AdditionalPaidInCapitalMember2021-10-300000912463us-gaap:RetainedEarningsMember2021-10-300000912463us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-10-300000912463us-gaap:TreasuryStockMember2021-10-300000912463us-gaap:NoncontrollingInterestMember2021-10-300000912463us-gaap:CommonStockMember2020-02-010000912463us-gaap:AdditionalPaidInCapitalMember2020-02-010000912463us-gaap:RetainedEarningsMember2020-02-010000912463us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-02-010000912463us-gaap:TreasuryStockMember2020-02-010000912463us-gaap:NoncontrollingInterestMember2020-02-010000912463us-gaap:RetainedEarningsMember2020-02-022020-05-020000912463us-gaap:NoncontrollingInterestMember2020-02-022020-05-0200009124632020-02-022020-05-020000912463us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-02-022020-05-020000912463us-gaap:CommonStockMember2020-02-022020-05-020000912463us-gaap:AdditionalPaidInCapitalMember2020-02-022020-05-020000912463us-gaap:TreasuryStockMember2020-02-022020-05-020000912463us-gaap:CommonStockMember2020-05-020000912463us-gaap:AdditionalPaidInCapitalMember2020-05-020000912463us-gaap:RetainedEarningsMember2020-05-020000912463us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-05-020000912463us-gaap:TreasuryStockMember2020-05-020000912463us-gaap:NoncontrollingInterestMember2020-05-0200009124632020-05-020000912463us-gaap:RetainedEarningsMember2020-05-032020-08-010000912463us-gaap:NoncontrollingInterestMember2020-05-032020-08-0100009124632020-05-032020-08-010000912463us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-05-032020-08-010000912463us-gaap:CommonStockMember2020-05-032020-08-010000912463us-gaap:AdditionalPaidInCapitalMember2020-05-032020-08-010000912463us-gaap:TreasuryStockMember2020-05-032020-08-010000912463us-gaap:CommonStockMember2020-08-010000912463us-gaap:AdditionalPaidInCapitalMember2020-08-010000912463us-gaap:RetainedEarningsMember2020-08-010000912463us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-08-010000912463us-gaap:TreasuryStockMember2020-08-010000912463us-gaap:NoncontrollingInterestMember2020-08-0100009124632020-08-010000912463us-gaap:RetainedEarningsMember2020-08-022020-10-310000912463us-gaap:NoncontrollingInterestMember2020-08-022020-10-310000912463us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-08-022020-10-310000912463us-gaap:CommonStockMember2020-08-022020-10-310000912463us-gaap:AdditionalPaidInCapitalMember2020-08-022020-10-310000912463us-gaap:TreasuryStockMember2020-08-022020-10-310000912463us-gaap:CommonStockMember2020-10-310000912463us-gaap:AdditionalPaidInCapitalMember2020-10-310000912463us-gaap:RetainedEarningsMember2020-10-310000912463us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-10-310000912463us-gaap:TreasuryStockMember2020-10-310000912463us-gaap:NoncontrollingInterestMember2020-10-310000912463us-gaap:RoyaltyMembersrt:MinimumMember2021-01-312021-10-300000912463us-gaap:RoyaltyMembersrt:MaximumMember2021-01-312021-10-300000912463us-gaap:RoyaltyMemberus-gaap:AccountsPayableAndAccruedLiabilitiesMember2021-10-300000912463us-gaap:RoyaltyMemberus-gaap:OtherNoncurrentLiabilitiesMember2021-10-300000912463us-gaap:RoyaltyMemberus-gaap:AccountsPayableAndAccruedLiabilitiesMember2021-01-300000912463us-gaap:RoyaltyMemberus-gaap:OtherNoncurrentLiabilitiesMember2021-01-30xbrli:pure0000912463srt:EuropeMember2021-10-300000912463srt:ScenarioForecastMember2022-01-302022-04-300000912463srt:MinimumMemberges:RetailStoreMember2021-01-312021-10-300000912463srt:MaximumMemberges:RetailStoreMember2021-01-312021-10-300000912463srt:WeightedAverageMemberges:RetailConcessionMember2021-01-312021-10-300000912463us-gaap:CostOfSalesMember2021-08-012021-10-300000912463us-gaap:CostOfSalesMember2020-08-022020-10-310000912463us-gaap:CostOfSalesMember2021-01-312021-10-300000912463us-gaap:CostOfSalesMember2020-02-022020-10-310000912463us-gaap:SellingGeneralAndAdministrativeExpensesMember2021-08-012021-10-300000912463us-gaap:SellingGeneralAndAdministrativeExpensesMember2020-08-022020-10-310000912463us-gaap:SellingGeneralAndAdministrativeExpensesMember2021-01-312021-10-300000912463us-gaap:SellingGeneralAndAdministrativeExpensesMember2020-02-022020-10-310000912463ges:NetGainsLossesOnLeaseModificationsMember2021-08-012021-10-300000912463ges:NetGainsLossesOnLeaseModificationsMember2020-08-022020-10-310000912463ges:NetGainsLossesOnLeaseModificationsMember2021-01-312021-10-300000912463ges:NetGainsLossesOnLeaseModificationsMember2020-02-022020-10-310000912463us-gaap:InterestExpenseMember2021-08-012021-10-300000912463us-gaap:InterestExpenseMember2020-08-022020-10-310000912463us-gaap:InterestExpenseMember2021-01-312021-10-300000912463us-gaap:InterestExpenseMember2020-02-022020-10-310000912463ges:EuropeSegmentMemberges:COVID19Member2021-08-012021-10-300000912463ges:EuropeSegmentMemberges:COVID19Member2021-01-312021-10-300000912463ges:EuropeSegmentMemberges:COVID19Member2020-08-022020-10-310000912463ges:EuropeSegmentMemberges:COVID19Member2020-02-022020-10-310000912463ges:NonRelatedPartiesMember2021-10-300000912463ges:RelatedPartiesMember2021-10-300000912463srt:EuropeMember2021-08-012021-10-300000912463srt:EuropeMember2021-01-312021-10-300000912463ges:NorthAmericaandEuropeMember2020-08-022020-10-310000912463ges:NorthAmericaandEuropeMember2020-02-022020-10-310000912463ges:PotentiallyDilutiveSharesMember2020-02-022020-10-310000912463us-gaap:PerformanceSharesMember2021-08-012021-10-300000912463us-gaap:PerformanceSharesMember2021-01-312021-10-300000912463us-gaap:PerformanceSharesMember2020-08-022020-10-310000912463us-gaap:PerformanceSharesMember2020-02-022020-10-310000912463ges:ShareRepurchaseProgramMember2021-08-230000912463ges:ShareRepurchaseProgramMember2021-01-312021-10-300000912463ges:ShareRepurchaseProgramMember2021-08-012021-10-300000912463ges:ShareRepurchaseProgramMember2020-02-022020-10-310000912463ges:ShareRepurchaseProgramMember2020-05-032020-08-010000912463ges:ShareRepurchaseProgramMember2021-10-300000912463us-gaap:SubsequentEventMember2021-11-232021-11-230000912463us-gaap:AccumulatedTranslationAdjustmentMember2021-07-310000912463us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-07-310000912463us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-07-310000912463us-gaap:AccumulatedTranslationAdjustmentMember2021-08-012021-10-300000912463us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-08-012021-10-300000912463us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-08-012021-10-300000912463us-gaap:AccumulatedTranslationAdjustmentMember2021-10-300000912463us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-10-300000912463us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-10-300000912463us-gaap:AccumulatedTranslationAdjustmentMember2021-01-300000912463us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-01-300000912463us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-01-300000912463us-gaap:AccumulatedTranslationAdjustmentMember2021-01-312021-10-300000912463us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-01-312021-10-300000912463us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-01-312021-10-300000912463us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-312021-10-300000912463us-gaap:AccumulatedTranslationAdjustmentMember2020-08-010000912463us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2020-08-010000912463us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-08-010000912463us-gaap:AccumulatedTranslationAdjustmentMember2020-08-022020-10-310000912463us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2020-08-022020-10-310000912463us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-08-022020-10-310000912463us-gaap:AccumulatedTranslationAdjustmentMember2020-10-310000912463us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2020-10-310000912463us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-10-310000912463us-gaap:AccumulatedTranslationAdjustmentMember2020-02-010000912463us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2020-02-010000912463us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-02-010000912463us-gaap:AccumulatedTranslationAdjustmentMember2020-02-022020-10-310000912463us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2020-02-022020-10-310000912463us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-02-022020-10-310000912463us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-02-022020-10-310000912463us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-08-012021-10-300000912463us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-08-022020-10-310000912463us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-01-312021-10-300000912463us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-02-022020-10-310000912463us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember2021-08-012021-10-300000912463us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember2020-08-022020-10-310000912463us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember2021-01-312021-10-300000912463us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember2020-02-022020-10-310000912463us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-08-012021-10-300000912463us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-08-022020-10-310000912463us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-01-312021-10-300000912463us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-02-022020-10-310000912463us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-08-012021-10-300000912463us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-08-022020-10-310000912463us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-01-312021-10-300000912463us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-02-022020-10-310000912463us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-08-012021-10-300000912463us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-08-022020-10-310000912463us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-01-312021-10-300000912463us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-02-022020-10-310000912463us-gaap:TradeAccountsReceivableMember2021-10-300000912463us-gaap:TradeAccountsReceivableMember2021-01-300000912463ges:RoyaltyReceivableMember2021-10-300000912463ges:RoyaltyReceivableMember2021-01-300000912463ges:OtherReceivablesMember2021-10-300000912463ges:OtherReceivablesMember2021-01-300000912463country:US2021-08-012021-10-300000912463country:CH2021-08-012021-10-300000912463srt:ScenarioForecastMember2022-01-012022-01-310000912463srt:MinimumMembercountry:CH2021-01-312021-10-300000912463country:CHsrt:MaximumMember2021-01-312021-10-30ges:segment0000912463ges:AmerRetailMemberus-gaap:OperatingSegmentsMember2021-08-012021-10-300000912463ges:AmerRetailMemberus-gaap:OperatingSegmentsMember2020-08-022020-10-310000912463ges:AmerRetailMemberus-gaap:OperatingSegmentsMember2021-01-312021-10-300000912463ges:AmerRetailMemberus-gaap:OperatingSegmentsMember2020-02-022020-10-310000912463us-gaap:OperatingSegmentsMemberges:AmericasWholesaleMember2021-08-012021-10-300000912463us-gaap:OperatingSegmentsMemberges:AmericasWholesaleMember2020-08-022020-10-310000912463us-gaap:OperatingSegmentsMemberges:AmericasWholesaleMember2021-01-312021-10-300000912463us-gaap:OperatingSegmentsMemberges:AmericasWholesaleMember2020-02-022020-10-310000912463ges:EuropeSegmentMemberus-gaap:OperatingSegmentsMember2021-08-012021-10-300000912463ges:EuropeSegmentMemberus-gaap:OperatingSegmentsMember2020-08-022020-10-310000912463ges:EuropeSegmentMemberus-gaap:OperatingSegmentsMember2021-01-312021-10-300000912463ges:EuropeSegmentMemberus-gaap:OperatingSegmentsMember2020-02-022020-10-310000912463ges:AsiaSegment1Memberus-gaap:OperatingSegmentsMember2021-08-012021-10-300000912463ges:AsiaSegment1Memberus-gaap:OperatingSegmentsMember2020-08-022020-10-310000912463ges:AsiaSegment1Memberus-gaap:OperatingSegmentsMember2021-01-312021-10-300000912463ges:AsiaSegment1Memberus-gaap:OperatingSegmentsMember2020-02-022020-10-310000912463ges:LicensingMemberus-gaap:OperatingSegmentsMember2021-08-012021-10-300000912463ges:LicensingMemberus-gaap:OperatingSegmentsMember2020-08-022020-10-310000912463ges:LicensingMemberus-gaap:OperatingSegmentsMember2021-01-312021-10-300000912463ges:LicensingMemberus-gaap:OperatingSegmentsMember2020-02-022020-10-310000912463us-gaap:OperatingSegmentsMember2021-08-012021-10-300000912463us-gaap:OperatingSegmentsMember2020-08-022020-10-310000912463us-gaap:OperatingSegmentsMember2021-01-312021-10-300000912463us-gaap:OperatingSegmentsMember2020-02-022020-10-310000912463us-gaap:CorporateNonSegmentMember2021-08-012021-10-300000912463us-gaap:CorporateNonSegmentMember2020-08-022020-10-310000912463us-gaap:CorporateNonSegmentMember2021-01-312021-10-300000912463us-gaap:CorporateNonSegmentMember2020-02-022020-10-310000912463us-gaap:MaterialReconcilingItemsMember2021-08-012021-10-300000912463us-gaap:MaterialReconcilingItemsMember2020-08-022020-10-310000912463us-gaap:MaterialReconcilingItemsMember2021-01-312021-10-300000912463us-gaap:MaterialReconcilingItemsMember2020-02-022020-10-310000912463country:USus-gaap:ProductMember2021-08-012021-10-300000912463country:USus-gaap:ProductMember2020-08-022020-10-310000912463country:USus-gaap:ProductMember2021-01-312021-10-300000912463country:USus-gaap:ProductMember2020-02-022020-10-310000912463country:ITus-gaap:ProductMember2021-08-012021-10-300000912463country:ITus-gaap:ProductMember2020-08-022020-10-310000912463country:ITus-gaap:ProductMember2021-01-312021-10-300000912463country:ITus-gaap:ProductMember2020-02-022020-10-310000912463country:DEus-gaap:ProductMember2021-08-012021-10-300000912463country:DEus-gaap:ProductMember2020-08-022020-10-310000912463country:DEus-gaap:ProductMember2021-01-312021-10-300000912463country:DEus-gaap:ProductMember2020-02-022020-10-310000912463country:CAus-gaap:ProductMember2021-08-012021-10-300000912463country:CAus-gaap:ProductMember2020-08-022020-10-310000912463country:CAus-gaap:ProductMember2021-01-312021-10-300000912463country:CAus-gaap:ProductMember2020-02-022020-10-310000912463country:ESus-gaap:ProductMember2021-08-012021-10-300000912463country:ESus-gaap:ProductMember2020-08-022020-10-310000912463country:ESus-gaap:ProductMember2021-01-312021-10-300000912463country:ESus-gaap:ProductMember2020-02-022020-10-310000912463us-gaap:ProductMembercountry:KR2021-08-012021-10-300000912463us-gaap:ProductMembercountry:KR2020-08-022020-10-310000912463us-gaap:ProductMembercountry:KR2021-01-312021-10-300000912463us-gaap:ProductMembercountry:KR2020-02-022020-10-310000912463ges:OtherForeignCountriesMemberus-gaap:ProductMember2021-08-012021-10-300000912463ges:OtherForeignCountriesMemberus-gaap:ProductMember2020-08-022020-10-310000912463ges:OtherForeignCountriesMemberus-gaap:ProductMember2021-01-312021-10-300000912463ges:OtherForeignCountriesMemberus-gaap:ProductMember2020-02-022020-10-310000912463ges:DebtAndFinanceLeaseLiabilitiesExcludingConvertibleDebtMember2021-10-300000912463ges:DebtAndFinanceLeaseLiabilitiesExcludingConvertibleDebtMember2021-01-300000912463srt:MinimumMemberus-gaap:UnsecuredDebtMembersrt:EuropeMember2021-01-312021-10-300000912463us-gaap:UnsecuredDebtMembersrt:MaximumMembersrt:EuropeMember2021-01-312021-10-300000912463srt:MinimumMemberus-gaap:UnsecuredDebtMembersrt:EuropeMember2021-10-300000912463us-gaap:UnsecuredDebtMembersrt:MaximumMembersrt:EuropeMember2021-10-300000912463us-gaap:UnsecuredDebtMembersrt:EuropeMember2021-10-300000912463us-gaap:UnsecuredDebtMembersrt:EuropeMember2021-01-300000912463country:NLus-gaap:CapitalLeaseObligationsMemberus-gaap:EquipmentMember2018-02-030000912463us-gaap:CapitalLeaseObligationsMemberus-gaap:EquipmentMembersrt:EuropeMember2021-10-300000912463us-gaap:CapitalLeaseObligationsMemberus-gaap:EquipmentMembersrt:EuropeMember2021-01-300000912463us-gaap:ComputerEquipmentMemberus-gaap:CapitalLeaseObligationsMember2021-10-300000912463us-gaap:ComputerEquipmentMemberus-gaap:CapitalLeaseObligationsMember2021-01-300000912463us-gaap:ConventionalLoanMembercountry:USus-gaap:BuildingMember2016-01-312017-01-280000912463us-gaap:ConventionalLoanMembercountry:USus-gaap:BuildingMember2017-01-280000912463us-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMember2021-01-300000912463country:CAus-gaap:LineOfCreditMemberus-gaap:ForeignLineOfCreditMember2021-01-300000912463us-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMember2021-10-300000912463us-gaap:LineOfCreditMemberges:RevolvingCreditFacilityAccordionFeatureMember2021-10-300000912463us-gaap:LineOfCreditMemberus-gaap:StandbyLettersOfCreditMember2021-10-300000912463us-gaap:LineOfCreditMemberus-gaap:LetterOfCreditMember2021-10-300000912463us-gaap:LineOfCreditMember2021-10-300000912463us-gaap:LineOfCreditMember2021-01-312021-10-300000912463us-gaap:ForeignLineOfCreditMembersrt:EuropeMember2021-10-300000912463srt:MinimumMemberus-gaap:ForeignLineOfCreditMembersrt:EuropeMember2021-10-300000912463srt:MaximumMemberus-gaap:ForeignLineOfCreditMembersrt:EuropeMember2021-10-300000912463country:CNus-gaap:ForeignLineOfCreditMember2021-10-300000912463country:CNus-gaap:ForeignLineOfCreditMember2021-01-300000912463country:JPus-gaap:ForeignLineOfCreditMember2021-10-300000912463country:JPus-gaap:ForeignLineOfCreditMember2021-01-300000912463us-gaap:SeniorNotesMemberges:A2.00ConvertibleSeniorNotesDue2024Member2019-04-300000912463us-gaap:SeniorNotesMemberges:A2.00ConvertibleSeniorNotesDue2024Memberges:InitialPurchasersMember2019-04-300000912463us-gaap:SeniorNotesMemberges:A2.00ConvertibleSeniorNotesDue2024Memberges:ThirdPartyOfferersMember2019-04-300000912463us-gaap:SeniorNotesMemberges:A2.00ConvertibleSeniorNotesDue2024Member2021-08-012021-10-300000912463us-gaap:SeniorNotesMemberges:A2.00ConvertibleSeniorNotesDue2024Member2021-01-312021-10-300000912463us-gaap:SeniorNotesMemberges:A2.00ConvertibleSeniorNotesDue2024Member2020-08-022020-10-310000912463us-gaap:SeniorNotesMemberges:A2.00ConvertibleSeniorNotesDue2024Member2020-02-022020-10-310000912463us-gaap:SeniorNotesMemberges:A2.00ConvertibleSeniorNotesDue2024Member2021-10-300000912463us-gaap:SeniorNotesMemberges:A2.00ConvertibleSeniorNotesDue2024Member2021-01-300000912463us-gaap:SeniorNotesMemberges:A2.00ConvertibleSeniorNotesDue2024Memberus-gaap:FairValueInputsLevel2Member2021-10-300000912463us-gaap:SeniorNotesMemberges:A2.00ConvertibleSeniorNotesDue2024Memberus-gaap:FairValueInputsLevel2Member2021-01-3000009124632019-04-012019-04-3000009124632019-04-300000912463us-gaap:SeniorNotesMemberges:A2.00ConvertibleSeniorNotesDue2024Member2019-04-012019-04-300000912463ges:EmployeeAndNonEmployeeStockOptionMember2021-08-012021-10-300000912463ges:EmployeeAndNonEmployeeStockOptionMember2020-08-022020-10-310000912463ges:EmployeeAndNonEmployeeStockOptionMember2021-01-312021-10-300000912463ges:EmployeeAndNonEmployeeStockOptionMember2020-02-022020-10-310000912463ges:NonvestedStockAwardsOrUnitsMember2021-08-012021-10-300000912463ges:NonvestedStockAwardsOrUnitsMember2020-08-022020-10-310000912463ges:NonvestedStockAwardsOrUnitsMember2021-01-312021-10-300000912463ges:NonvestedStockAwardsOrUnitsMember2020-02-022020-10-310000912463ges:EmployeeStockPurchasePlanMember2021-08-012021-10-300000912463ges:EmployeeStockPurchasePlanMember2020-08-022020-10-310000912463ges:EmployeeStockPurchasePlanMember2021-01-312021-10-300000912463ges:EmployeeStockPurchasePlanMember2020-02-022020-10-310000912463ges:NonvestedStockAwardsOrUnitsMember2021-10-300000912463ges:VestingTranchesAfterInitialVestingPeriodMembersrt:MinimumMemberus-gaap:PerformanceSharesMember2021-01-312021-10-300000912463ges:VestingTranchesAfterInitialVestingPeriodMembersrt:MaximumMemberus-gaap:PerformanceSharesMember2021-01-312021-10-300000912463us-gaap:PerformanceSharesMember2021-01-300000912463us-gaap:PerformanceSharesMember2021-01-312021-10-300000912463us-gaap:PerformanceSharesMember2021-10-300000912463srt:MinimumMemberges:MarketBasedSharesMember2021-01-312021-10-300000912463srt:MaximumMemberges:MarketBasedSharesMember2021-01-312021-10-300000912463ges:MarketBasedSharesTSRMember2021-01-312021-10-300000912463ges:MarketBasedSharesStockPriceLevelsMember2021-01-312021-10-300000912463ges:MarketBasedUnitsMember2021-01-300000912463ges:MarketBasedUnitsMember2021-01-312021-10-300000912463ges:MarketBasedUnitsMember2021-10-300000912463ges:Fiscal2019Memberges:MarketBasedUnitsMember2021-01-312021-10-300000912463ges:MarcianoEntitiesMember2021-10-30ges:lease0000912463ges:MarcianoEntitiesMemberges:RelatedPartyLeasesMember2021-01-312021-10-300000912463ges:MarcianoEntitiesMemberges:RelatedPartyLeasesMember2020-02-022020-10-310000912463ges:MarcianoEntitiesMemberges:AircraftCharterPaymentMember2021-01-312021-10-300000912463ges:MarcianoEntitiesMemberges:AircraftCharterPaymentMember2020-02-022020-10-310000912463ges:MarcianoEntitiesMemberges:PrivatelyHeldMensFootwearCompanyMember2021-10-300000912463ges:MarcianoEntitiesMemberges:PrivatelyHeldMensFootwearCompanyMember2020-12-310000912463ges:MarcianoEntitiesMemberges:PrivatelyHeldMensFootwearCompanyMember2021-01-300000912463us-gaap:PrivateEquityFundsMember2021-10-30iso4217:EUR0000912463country:ITges:EuropeSegmentMemberges:CustomsTaxAuditandAppealsMemberus-gaap:PendingLitigationMember2021-01-312021-10-30ges:subsidiary0000912463country:ITges:EuropeSegmentMemberges:CustomsTaxAuditandAppealsMemberus-gaap:PendingLitigationMember2021-10-300000912463country:ITges:EuropeSegmentMemberges:ItalianSupremeCourtMemberges:CustomsTaxAuditandAppealsMemberus-gaap:SettledLitigationMember2021-01-312021-10-300000912463country:ITges:EuropeSegmentMemberges:ItalianSupremeCourtMemberges:CustomsTaxAuditandAppealsMemberus-gaap:PendingLitigationMember2021-01-312021-10-300000912463ges:AllegationsAgainstChiefCreativeOfficerMember2021-07-012021-07-310000912463ges:GuessBrazilMember2021-10-300000912463ges:GuessBrazilMember2021-10-300000912463ges:GuessBrazilMember2021-01-300000912463ges:GuessCISMember2021-10-300000912463ges:GuessCISMember2021-10-300000912463ges:GuessCISMember2021-01-300000912463us-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMemberus-gaap:OtherNoncurrentAssetsMember2021-10-300000912463us-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMemberus-gaap:OtherNoncurrentAssetsMember2021-01-300000912463us-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMemberus-gaap:OtherNonoperatingIncomeExpenseMember2021-08-012021-10-300000912463us-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMemberus-gaap:OtherNonoperatingIncomeExpenseMember2021-01-312021-10-300000912463us-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMemberus-gaap:OtherNonoperatingIncomeExpenseMember2020-08-022020-10-310000912463us-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMemberus-gaap:OtherNonoperatingIncomeExpenseMember2020-02-022020-10-310000912463us-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMemberges:AccruedExpensesandOtherLongTermLiabilitiesMember2021-10-300000912463us-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMemberges:AccruedExpensesandOtherLongTermLiabilitiesMember2021-01-300000912463us-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMember2021-08-012021-10-300000912463us-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMember2021-01-312021-10-300000912463us-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMember2020-08-022020-10-310000912463us-gaap:SupplementalEmployeeRetirementPlanDefinedBenefitMember2020-02-022020-10-310000912463us-gaap:PensionPlansDefinedBenefitMemberus-gaap:ForeignPlanMember2021-10-300000912463us-gaap:PensionPlansDefinedBenefitMemberus-gaap:ForeignPlanMember2021-01-300000912463us-gaap:PensionPlansDefinedBenefitMemberus-gaap:OtherNoncurrentLiabilitiesMemberus-gaap:ForeignPlanMember2021-10-300000912463us-gaap:PensionPlansDefinedBenefitMemberus-gaap:OtherNoncurrentLiabilitiesMemberus-gaap:ForeignPlanMember2021-01-300000912463us-gaap:PensionPlansDefinedBenefitMemberus-gaap:ForeignPlanMember2021-08-012021-10-300000912463us-gaap:PensionPlansDefinedBenefitMember2021-08-012021-10-300000912463us-gaap:PensionPlansDefinedBenefitMemberus-gaap:ForeignPlanMember2021-01-312021-10-300000912463us-gaap:PensionPlansDefinedBenefitMember2021-01-312021-10-300000912463us-gaap:PensionPlansDefinedBenefitMemberus-gaap:ForeignPlanMember2020-08-022020-10-310000912463us-gaap:PensionPlansDefinedBenefitMember2020-08-022020-10-310000912463us-gaap:PensionPlansDefinedBenefitMemberus-gaap:ForeignPlanMember2020-02-022020-10-310000912463us-gaap:PensionPlansDefinedBenefitMember2020-02-022020-10-310000912463us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignExchangeForwardMemberus-gaap:FairValueInputsLevel1Member2021-10-300000912463us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignExchangeForwardMemberus-gaap:FairValueInputsLevel2Member2021-10-300000912463us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignExchangeForwardMemberus-gaap:FairValueInputsLevel3Member2021-10-300000912463us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignExchangeForwardMember2021-10-300000912463us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignExchangeForwardMemberus-gaap:FairValueInputsLevel1Member2021-01-300000912463us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignExchangeForwardMemberus-gaap:FairValueInputsLevel2Member2021-01-300000912463us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignExchangeForwardMemberus-gaap:FairValueInputsLevel3Member2021-01-300000912463us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignExchangeForwardMember2021-01-300000912463us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2021-10-300000912463us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2021-10-300000912463us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2021-10-300000912463us-gaap:FairValueMeasurementsRecurringMember2021-10-300000912463us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2021-01-300000912463us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2021-01-300000912463us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2021-01-300000912463us-gaap:FairValueMeasurementsRecurringMember2021-01-300000912463us-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel1Member2021-10-300000912463us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:InterestRateSwapMember2021-10-300000912463us-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel3Member2021-10-300000912463us-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateSwapMember2021-10-300000912463us-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel1Member2021-01-300000912463us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Memberus-gaap:InterestRateSwapMember2021-01-300000912463us-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel3Member2021-01-300000912463us-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateSwapMember2021-01-300000912463us-gaap:PrivateEquityFundsMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberus-gaap:OtherAssetsMember2021-10-300000912463us-gaap:PrivateEquityFundsMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberus-gaap:OtherAssetsMember2021-01-300000912463us-gaap:PrivateEquityFundsMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2021-10-300000912463ges:NorthAmericaEuropeandAsiaMembersrt:RetailSiteMember2021-08-012021-10-300000912463ges:NorthAmericaEuropeandAsiaMembersrt:RetailSiteMember2021-01-312021-10-300000912463ges:NorthAmericaEuropeandAsiaMembersrt:RetailSiteMember2020-08-022020-10-310000912463ges:NorthAmericaEuropeandAsiaMembersrt:RetailSiteMember2020-02-022020-10-310000912463us-gaap:ForeignExchangeForwardMemberus-gaap:DesignatedAsHedgingInstrumentMemberges:OtherCurrentAssetsandOtherLongTermAssetsMemberus-gaap:CashFlowHedgingMember2021-10-300000912463us-gaap:ForeignExchangeForwardMemberus-gaap:DesignatedAsHedgingInstrumentMemberges:OtherCurrentAssetsandOtherLongTermAssetsMemberus-gaap:CashFlowHedgingMember2021-01-300000912463us-gaap:ForeignExchangeForwardMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMember2021-10-300000912463us-gaap:ForeignExchangeForwardMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMember2021-01-300000912463us-gaap:ForeignExchangeForwardMemberus-gaap:NondesignatedMemberges:OtherCurrentAssetsandOtherLongTermAssetsMember2021-10-300000912463us-gaap:ForeignExchangeForwardMemberus-gaap:NondesignatedMemberges:OtherCurrentAssetsandOtherLongTermAssetsMember2021-01-300000912463us-gaap:ForeignExchangeForwardMemberus-gaap:DesignatedAsHedgingInstrumentMemberges:AccruedLiabilitiesCurrentAndOtherLiabilitiesNoncurrentMemberus-gaap:CashFlowHedgingMember2021-10-300000912463us-gaap:ForeignExchangeForwardMemberus-gaap:DesignatedAsHedgingInstrumentMemberges:AccruedLiabilitiesCurrentAndOtherLiabilitiesNoncurrentMemberus-gaap:CashFlowHedgingMember2021-01-300000912463us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherNoncurrentLiabilitiesMemberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMember2021-10-300000912463us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherNoncurrentLiabilitiesMemberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMember2021-01-300000912463us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMember2021-10-300000912463us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMember2021-01-300000912463us-gaap:AccruedLiabilitiesMemberus-gaap:ForeignExchangeForwardMemberus-gaap:NondesignatedMember2021-10-300000912463us-gaap:AccruedLiabilitiesMemberus-gaap:ForeignExchangeForwardMemberus-gaap:NondesignatedMember2021-01-300000912463us-gaap:ForeignExchangeForwardMemberus-gaap:DesignatedAsHedgingInstrumentMembersrt:EuropeMemberus-gaap:CashFlowHedgingMember2021-01-312021-10-300000912463us-gaap:ForeignExchangeForwardMemberus-gaap:DesignatedAsHedgingInstrumentMembersrt:EuropeMemberus-gaap:CashFlowHedgingMember2021-10-300000912463us-gaap:DesignatedAsHedgingInstrumentMembersrt:EuropeMemberus-gaap:CashFlowHedgingMember2021-01-312021-10-300000912463us-gaap:ForeignExchangeForwardMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-10-300000912463us-gaap:ForeignExchangeForwardMemberus-gaap:DesignatedAsHedgingInstrumentMembersrt:EuropeMemberus-gaap:CashFlowHedgingMember2021-01-300000912463us-gaap:ForeignExchangeForwardMemberus-gaap:CostOfSalesMember2021-08-012021-10-300000912463us-gaap:ForeignExchangeForwardMemberus-gaap:CostOfSalesMember2020-08-022020-10-310000912463us-gaap:InterestExpenseMemberus-gaap:InterestRateSwapMember2021-08-012021-10-300000912463us-gaap:InterestExpenseMemberus-gaap:InterestRateSwapMember2020-08-022020-10-310000912463us-gaap:ForeignExchangeForwardMemberus-gaap:CostOfSalesMember2021-01-312021-10-300000912463us-gaap:ForeignExchangeForwardMemberus-gaap:CostOfSalesMember2020-02-022020-10-310000912463us-gaap:InterestExpenseMemberus-gaap:InterestRateSwapMember2021-01-312021-10-300000912463us-gaap:InterestExpenseMemberus-gaap:InterestRateSwapMember2020-02-022020-10-310000912463currency:EURus-gaap:ForeignExchangeForwardMemberus-gaap:NondesignatedMember2021-10-300000912463currency:EURus-gaap:NondesignatedMember2021-01-312021-10-300000912463currency:EURus-gaap:ForeignExchangeForwardMemberus-gaap:NondesignatedMember2021-01-300000912463us-gaap:ForeignExchangeForwardMemberus-gaap:OtherNonoperatingIncomeExpenseMember2021-08-012021-10-300000912463us-gaap:ForeignExchangeForwardMemberus-gaap:OtherNonoperatingIncomeExpenseMember2020-08-022020-10-310000912463us-gaap:ForeignExchangeForwardMemberus-gaap:OtherNonoperatingIncomeExpenseMember2021-01-312021-10-300000912463us-gaap:ForeignExchangeForwardMemberus-gaap:OtherNonoperatingIncomeExpenseMember2020-02-022020-10-31
Table of Contents
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q 
          QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 For the quarterly period ended October 30, 2021
OR 
      TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from             to           
Commission file number: 1-11893
GUESS?, INC.
(Exact name of registrant as specified in its charter)
Delaware95-3679695
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)
  
1444 South Alameda Street
Los Angeles, California 90021
(Address of principal executive offices and zip code)
(213) 765-3100
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading symbol(s)Name of each exchange on which registered
  
Common Stock, par value $0.01 per shareGESNew York Stock Exchange
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  Yes x  No o
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).  Yes x  No o
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer Accelerated filer
  
Non-accelerated filer Smaller reporting company
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.o
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).  Yes   No x
As of November 29, 2021, the registrant had 64,974,647 shares of Common Stock, $.01 par value per share, outstanding.


Table of Contents
GUESS?, INC.
FORM 10-Q
TABLE OF CONTENTS
   
 
   
 
   
 
   
   
 
 
 
   
   
   
   
   
i

Table of Contents
PART I. FINANCIAL INFORMATION
ITEM 1. Financial Statements.

GUESS?, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except share data) 
 Oct 30, 2021Jan 30, 2021
 (unaudited) 
ASSETS  
Current assets:  
Cash and cash equivalents$391,065 $469,110 
Accounts receivable, net321,296 314,147 
Inventories482,475 389,144 
Other current assets76,414 60,123 
Total current assets1,271,250 1,232,524 
Property and equipment, net212,126 216,196 
Goodwill35,539 36,736 
Deferred tax assets186,957 72,417 
Restricted cash224 235 
Operating lease right-of-use assets706,161 764,804 
Other assets150,184 142,956 
 $2,562,441 $2,465,868 
LIABILITIES AND STOCKHOLDERS’ EQUITY  
Current liabilities:  
Current portion of borrowings and finance lease obligations$32,960 $38,710 
Accounts payable313,727 300,427 
Accrued expenses and other current liabilities248,879 200,602 
Current portion of operating lease liabilities209,072 222,800 
Total current liabilities804,638 762,539 
Convertible senior notes, net267,599 258,614 
Long-term debt and finance lease obligations67,456 68,554 
Long-term operating lease liabilities599,472 662,657 
Other long-term liabilities159,820 144,004 
Total liabilities1,898,985 1,896,368 
Redeemable noncontrolling interests9,751 3,920 
Commitments and contingencies (Note 13)
Stockholders’ equity:  
Preferred stock, $.01 par value. Authorized 10,000,000 shares; no shares issued and outstanding
  
Common stock, $.01 par value. Authorized 150,000,000 shares; issued 142,788,502 and 142,793,679 shares, outstanding 64,974,647 and 64,230,162 shares, as of October 30, 2021 and January 30, 2021, respectively
650 642 
Paid-in capital562,177 553,111 
Retained earnings1,105,129 1,034,823 
Accumulated other comprehensive loss
(127,200)(120,675)
Treasury stock, 77,813,855 and 78,563,517 shares as of October 30, 2021 and January 30, 2021, respectively
(915,419)(924,238)
Guess?, Inc. stockholders’ equity625,337 543,663 
Nonredeemable noncontrolling interests28,368 21,917 
Total stockholders’ equity653,705 565,580 
 $2,562,441 $2,465,868 
 
See accompanying notes to condensed consolidated financial statements.
1

Table of Contents

GUESS?, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS)
(in thousands, except per share data)
(unaudited)
 Three Months EndedNine Months Ended
 Oct 30, 2021Oct 31, 2020Oct 30, 2021Oct 31, 2020
Product sales$616,489 $549,851 $1,721,657 $1,183,560 
Net royalties26,581 19,433 70,039 44,514 
Net revenue643,070 569,284 1,791,696 1,228,074 
Cost of product sales349,466 329,764 992,448 807,297 
Gross profit293,604 239,520 799,248 420,777 
Selling, general and administrative expenses223,775 184,739 616,076 478,320 
Asset impairment charges1,152 10,335 3,094 75,276 
Net (gains) losses on lease modifications3,006 (21)441 (450)
Earnings (loss) from operations65,671 44,467 179,637 (132,369)
Other income (expense):  
Interest expense(5,550)(5,809)(17,485)(17,212)
Interest income487 562 1,322 1,608 
Other expense, net(7,800)(6,521)(11,502)(20,553)
Total other expense(12,863)(11,768)(27,665)(36,157)
Earnings (loss) before income tax expense (benefit)52,808 32,699 151,972 (168,526)
Income tax expense (benefit)20,441 5,145 43,588 (14,850)
Net earnings (loss)32,367 27,554 108,384 (153,676)
Net earnings (loss) attributable to noncontrolling interests2,487 1,178 5,436 (2,028)
Net earnings (loss) attributable to Guess?, Inc.$29,880 $26,376 $102,948 $(151,648)
Net earnings (loss) per common share attributable to common stockholders:
Basic$0.46 $0.41 $1.58 $(2.35)
Diluted$0.45 $0.41 $1.55 $(2.35)
Weighted average common shares outstanding attributable to common stockholders:
Basic64,373 62,789 64,248 64,561 
Diluted65,852 63,579 65,893 64,561 

See accompanying notes to condensed consolidated financial statements.

2

Table of Contents

GUESS?, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF
COMPREHENSIVE INCOME (LOSS)
(in thousands)
(unaudited)
 Three Months EndedNine Months Ended
 Oct 30, 2021Oct 31, 2020Oct 30, 2021Oct 31, 2020
Net earnings (loss)$32,367 $27,554 $108,384 $(153,676)
Other comprehensive income (loss) (“OCI”):  
Foreign currency translation adjustment
Gains (losses) arising during the period(7,907)(1,043)(15,374)13,260 
Derivative financial instruments designated as cash flow hedges
  
Gains (losses) arising during the period3,072 1,465 6,486 (2,896)
Less income tax effect
(371)(179)(761)350 
Reclassification to net earnings (loss) for (gains) losses realized1,342 (1,737)2,764 (6,187)
Less income tax effect
(157)184 (329)667 
Defined benefit plans
  
Foreign currency and other adjustments
54 (5)139 (241)
Less income tax effect
(6)3 (14)27 
Net actuarial loss amortization
106 101 317 294 
Prior service credit amortization
(16)(17)(50)(49)
Less income tax effect
(13)(10)(36)(29)
Total comprehensive income (loss)28,471 26,316 101,526 (148,480)
Less comprehensive income (loss) attributable to noncontrolling interests:  
Net earnings (loss)
2,487 1,178 5,436 (2,028)
Foreign currency translation adjustment
(624)1,166 (333)(701)
Amounts attributable to noncontrolling interests1,863 2,344 5,103 (2,729)
Comprehensive income (loss) attributable to Guess?, Inc.$26,608 $23,972 $96,423 $(145,751)

See accompanying notes to condensed consolidated financial statements.

3

Table of Contents

GUESS?, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
(unaudited)
 Nine Months Ended
 Oct 30, 2021Oct 31, 2020
Cash flows from operating activities:  
Net earnings (loss)$108,384 $(153,676)
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:  
Depreciation and amortization41,613 48,009 
Amortization of debt discount8,343 7,796 
Amortization of debt issuance costs1,035 1,017 
Share-based compensation expense15,068 14,529 
Forward contract (gains) losses(766)2,926 
Deferred income taxes(119,853)912
Net loss from impairment and disposition of long-term assets4,972 76,046 
Other items, net14,797 11,872 
Changes in operating assets and liabilities:  
Accounts receivable(22,301)41,188 
Inventories(96,673)3,591 
Prepaid expenses and other assets(23,045)(10,174)
Operating lease assets and liabilities, net(17,422)34,323 
Accounts payable and accrued expenses72,360 21,157 
Other long-term liabilities18,069 (1,165)
Net cash provided by operating activities4,581 98,351 
Cash flows from investing activities:  
Purchases of property and equipment(40,598)(12,364)
Proceeds from sale of business and long-term assets3,625 1,596 
Net cash settlement of forward contracts(740)(743)
Purchases of investments(2,045)(2,344)
Other investing activities(617)(723)
Net cash used in investing activities(40,375)(14,578)
Cash flows from financing activities:  
Proceeds from borrowings19,310 294,893 
Repayments on borrowings and finance lease obligations(25,077)(249,727)
Dividends paid(22,121)(8,114)
Noncontrolling interest capital distribution(3,452) 
Issuance of common stock, net of income tax withholdings on vesting of stock awards2,846 (2,724)
Purchase of treasury stock (38,876)
Net cash used in financing activities(28,494)(4,548)
Effect of exchange rates on cash, cash equivalents and restricted cash(13,768)1,432 
Net change in cash, cash equivalents and restricted cash(78,056)80,657 
Cash, cash equivalents and restricted cash at the beginning of the year469,345 284,828 
Cash, cash equivalents and restricted cash at the end of the period$391,289 $365,485 
Supplemental cash flow data:  
Interest paid$9,009 $9,265 
Income taxes paid, net of refunds$107,687 $6,326 
Non-cash investing and financing activity:
Assets acquired under finance lease obligations$2,854 $6,803 
Receivable and related adjustments from sale of retail locations$ $574 
 
See accompanying notes to condensed consolidated financial statements.
4

Table of Contents
GUESS?, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
(in thousands, except share data)
For the three and nine months ended October 30, 2021
 Guess?, Inc. Stockholders’ Equity 
Common StockTreasury Stock
 SharesAmountPaid-in
Capital
Retained EarningsAccumulated Other Comprehensive LossSharesAmountNonredeemable
Noncontrolling
Interests
Total
Balance at January 30, 202164,230,162 $642 $553,111 $1,034,823 $(120,675)78,563,517 $(924,238)$21,917 $565,580 
Net earnings— — — 12,006 — — — 864 12,870 
Other comprehensive income (loss), net of income tax of ($190)
— — — — (227)— — 217 (10)
Issuance of common stock under stock compensation plans689,653 7 (6,417)— — (690,492)8,123 — 1,713 
Issuance of stock under Employee Stock Purchase Plan12,798 — 81 — — (12,798)151 — 232 
Share-based compensation— — 4,056 4 — — — — 4,060 
Dividends, net of forfeitures on non-participating securities— — — (7,252)— — — — (7,252)
Balance at May 1, 202164,932,613 $649 $550,831 $1,039,581 $(120,902)77,860,227 $(915,964)$22,998 $577,193 
Net earnings— — — 61,062 — — — 2,085 63,147 
Other comprehensive income (loss), net of income tax of ($403)
— — — — (3,026)— — 74 (2,952)
Issuance of common stock under stock compensation plans24,233 1 60 — — (27,409)323 — 384 
Issuance of stock under Employee Stock Purchase Plan11,129 — 79 — — (11,129)130 — 209 
Share-based compensation— — 4,795 7 — — — — 4,802 
Dividends, net of forfeitures on non-participating securities— — — (7,308)— — — — (7,308)
Noncontrolling interest capital distribution— — — — — — — (3,452)(3,452)
Balance at July 31, 202164,967,975 $650 $555,765 $1,093,342 $(123,928)77,821,689 $(915,511)$21,705 $632,023 
Net earnings— — — 29,880 — — — 2,487 32,367 
Other comprehensive loss, net of income tax of ($547)
— — — — (3,272)— — (624)(3,896)
Issuance of common stock under stock compensation plans(1,137)— 160 — — (25)— — 160 
Issuance of stock under Employee Stock Purchase Plan7,809 — 56 — — (7,809)92 — 148 
Share-based compensation— — 6,196 10 — — — — 6,206 
Dividends, net of forfeitures on non-participating securities— — — (7,649)— — — — (7,649)
Redeemable noncontrolling interest redemption value adjustment— — — (10,454)— — — 4,800 (5,654)
Balance at October 30, 202164,974,647 $650 $562,177 $1,105,129 $(127,200)77,813,855 $(915,419)$28,368 $653,705 

See accompanying notes to condensed consolidated financial statements.
5

Table of Contents
GUESS?, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
(in thousands, except share data)
For the three and nine months ended October 31, 2020
 Guess?, Inc. Stockholders’ Equity 
Common StockTreasury Stock
 SharesAmountPaid-in
Capital
Retained EarningsAccumulated Other Comprehensive LossSharesAmountNonredeemable
Noncontrolling
Interests
Total
Balance at February 1, 202065,848,510 $658 $563,004 $1,130,409 $(139,910)77,019,437 $(914,447)$21,633 $661,347 
Net loss— — — (157,666)— — — (2,872)(160,538)
Other comprehensive loss, net of income tax of ($147)
— — — — (13,392)— — (3,626)(17,018)
Issuance of common stock under stock compensation plans1,763,311 18 (24,264)— — (1,770,223)21,017 — (3,229)
Issuance of stock under Employee Stock Purchase Plan32,427  (192)— — (32,427)385 — 193 
Share-based compensation— — 5,771 15 — — — — 5,786 
Dividends, net of forfeitures on non-participating securities— — — 248 — — — — 248 
Balance at May 2, 202067,644,248 $676 $544,319 $973,006 $(153,302)75,216,787 $(893,045)$15,135 $486,789 
Net loss— — — (20,358)— — — (334)(20,692)
Other comprehensive income, net of income tax of $1,164
— — — — 21,693 — — 1,759 23,452 
Issuance of common stock under stock compensation plans(54,926)— 429 — — 37,730 (448)— (19)
Issuance of stock under Employee Stock Purchase Plan25,427 — (154)— — (25,427)301 — 147 
Share-based compensation— — 3,968 35 — — — — 4,003 
Dividends, net of forfeitures on non-participating securities— — — 24 — — — — 24 
Share repurchases(4,000,000)(40)40 — — 4,000,000 (