Summary of QQ1 2026 results for Guess Inc shows meaningful top-line momentum driven by the Rag & Bone acquisition, with total revenues of $648.0 million, up 9% year over year (YoY) and 12% in constant currency. The Rag & Bone contribution added 9 percentage points to constant‑currency growth, while the core Guess business contributed roughly 3 percentage points. Europe wholesale posted mid‑teens growth, Americas Wholesale delivered a material lift (USD up ~63%), and Asia remained a net negative, pressuring overall profitability. The quarter included a gross margin of 39.9% (down 200 bps YoY) and an adjusted operating loss of $26 million (adjusted EBIT margin −4.0%), with adjusted EPS of −$0.44. The mix shift toward wholesale and the Rag & Bone integration drove higher SG&A (up 11% YoY) and a tighter operating environment for full-price stores, contributing to a negative near-term profitability trajectory. Management also highlighted tariff mitigation actions that reduce annual margin impact to under $10 million and signaled a robust, multi‑quarter strategic plan to improve retail productivity, supply-chain flexibility, pricing discipline, and organizational efficiency. Full-year guidance was reaffirmed with revenue growth of 5.5%–7.4%, adjusted operating margin of 4.4%–5.1%, and adjusted EPS of $1.32–$1.64, with a second‑quarter revenue outlook of 2.9%–4.7% (≈2%–4% in constant currency) and a plan to optimize working capital to offset earnings pressure.