Guess? (GES) Keeps the Market Guessing?
Similarly to the last second turnarounds from loser to winner of a crucial NBA Playoff game, Guess? Inc. (NYSE: GES) issued their earnings report yesterday with just as mixed a signal as the pre-market futures this morning.
The fashionable apparel retailer delivered profit of $50.3 million, or $.54 cents per share, compared with earnings of $32.5 million, or $.35 cents a share, in the same period a year ago.
Revenue rose 22% to $539.3 million, up from 2009’s first-quarter sales of $441.20 million.
The Cheat Sheet: Guess? reported 1st quarter earnings that beat consensus analyst estimates, however forecast 2nd quarter guidance missed consensus analyst expectations. Guess? reduced its full-year earnings per share estimate to a range of $2.80 to $2.85 per share, down from a previous forecast of between $2.87 and $2.95 per share. The stock is trading flat-to-up this morning, yet another sign of the mixed confidence in the retail recovery.
Disclosure: No positions in the companies mentioned.