Guess? (GES): Shares cycle in 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 391 retail stores in the United States and Canada and 607 retail stores outside of North America, of which 63 are directly owned. It also distributes 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 Q1 EPS of 51 cents and revenues of $489.2 million. Analysts had been looking for 46 cents and $451.6 million. The CEO noted that international expansion continued to yield strong results. Management also guided Q2 EPS to 47-49 cents (47 cent consensus), Q2 revenues to $455-$465 million ($456.27M consensus), FY09 EPS to $2.40-$2.48 ($2.44 consensus) and FY09 revenues to $2.03-$2.08 billion ($2.05B consensus). Brean Murray subsequently remarked that the firm's projections remained conservative on a number of levels. Wedbush Morgan reiterated its "buy" recommendation on the shares.

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