Guess Inc. has recently announced the completion of its previously disclosed $175.0 million accelerated share repurchase program (“ASR”) entered into on March 18, 2022. On June 24, 2022, the Company received the final delivery of 5.2 million shares under the ASR, which amount was determined based on the daily volume-weighted average price since the effective date of the ASR contract, less the applicable contractual discount. When combined with the 3.3 million upfront shares received at the inception of the ASR in March 2022, the Company repurchased 8.5 million of its shares under the ASR at an average repurchase price of $20.68 per share.
In addition to these ASR share repurchases, and as previously announced, during the three months ended April 30, 2022, the Company also repurchased 0.5 million shares of its common stock in open market transactions totaling $11.7 million. As a result, the Company has repurchased a total of 9.0 million shares for $186.7 million this fiscal year through June 24, 2022 at an average price of $20.78 per share, representing slightly over 14% of its outstanding shares at the beginning of this fiscal year.
Guess Inc. designs, markets distributes and licenses a lifestyle collection of contemporary apparel, denim, handbags, watches, eyewear, footwear, and other related consumer products. Guess? products are distributed through branded Guess? stores as well as better department and specialty stores around the world. As of April 30, 2022, the Company directly operated 1,073 retail stores in the Americas, Europe, and Asia. The Company’s partners and distributors operated 565 additional retail stores worldwide. As of April 30, 2022, the Company and its partners and distributors operated in approximately 100 countries worldwide.
