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Guess', Inc. Announces Actions In Response To COVID-19 - Quick Facts

Guess', Inc. (GES) said the company is implementing a number of measures to mitigate the operating and financial impact of the pandemic, including: furloughing all of its U.S. and Canada store associates starting April 2, 2020; furloughing approximately 50% of its U.S. and Canada corporate associates, and most of the associates at its distribution centers in the U.S. and Canada, starting April 2, 2020.

The company is executing substantial reductions in expenses, store occupancy costs, capital expenditures and overall costs, including through reduced inventory purchases.

Guess', Inc. is also implementing temporary tiered salary reductions for all management level corporate employees in the U.S., ranging from 15% at lower levels to 70% for CEO Carlos Alberini and Chief Creative Officer Paul Marciano.

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