STRONG MANAGEMENT TEAM
As part of our renewed commitment to operational
excellence, we strengthened our team this year by
hiring several key executives with top-tier industry
credentials. Leading them is Carlos Alberini, our
new President and Chief Operating Officer.
SOLID STRATEGY
Our focus is to reposition our company for future
growth. In 2001 we plan to reduce costs and
capital spending, and to improve profitability and
cash flow. We are increasing accountability and
communication at all levels of the Company. We
are strengthening our Company's infrastructure to
ensure we have a solid foundation to support our
growth plans.
EXPANDING RETAIL BASE
GUESS? opened 56 new stores in 2000 in
strategic locations throughout the U.S. and
Canada. Although we are currently scaling back
our expansion plan to regain business momentum,
improve investment returns and optimize our
capital structure, GUESS? will remain strongly
focused on growing this high margin area of our
business in the future.
GROWING REVENUES
Driven by the enduring power of the GUESS?
brand in the minds of our customers, sales
continue to grow annually. In 2000, retail sales
expanded 31% over 1999 and wholesale revenues
increased by almost 34% this year. While market
share growth is important to us, high profitability
and strong shareholder returns are at the center
of our mission. In 2001 we will concentrate on
improving profitability as we reposition GUESS?
for future growth.
count
on us
page
6
