Guess? (GES): Shares forming bullish 'flag'

Filed under: Earnings reports, Analyst upgrades and downgrades, Gap Inc (GPS), Abercrombie and Fitch (ANF), Technical Analysis, Stocks to Buy

Guess? Inc. (NYSE: GES) designs, markets, distributes and licenses a trendy, upscale collection of contemporary apparel, accessories and related consumer products. The company operates 373 retail stores in the United States and Canada and also distributes its products through department and specialty stores around the world. Competitors include Gap Inc. (NYSE: GPS) and Abercrombie & Fitch (NYSE: ANF).

Guess? surprised investors last week, when it reported Q4 EPS of 59 cents and revenues of $514.6 million. Both totals were company records. Analysts had been looking for 57 cents and $470 million. Management also issued Q1 and FY09 estimates that were essentially in-line with Street views and the Board approved a $200 million share repurchase program. Wedbush Morgan subsequently reiterated its "buy" recommendation on the stock.

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