Business Services Industry
Boenning & Scattergood Announces Investment Opinion on Guess?, Inc
Business Wire, Dec 23, 2008
WEST CONSHOHOCKEN, Pa. -- Boenning & Scattergood initiated coverage of Guess?, Inc. (NYSE:GES) today with a Neutral rating. Guess? designs, markets, distributes and licenses Guess products and its brand in a worldwide apparel and accessories collection for men, women and children in over 70 countries. Apparel is mostly marketed under GUESS?, GUESS Kids, YES, G by GUESS, GUESS by MARCIANO and MARCIANO. Our investment thesis includes the following factors:
* Long term International Growth and Brand Extensions - Currently GES' primary focus is international expansion. The GES model is based on growth from its partners as they open new licensed stores internationally. There are opportunities for GES to continue its organic international growth in Europe and Asia.
* Short-term negatives - slowing global demand, denim cycle and a stronger U.S. dollar. GES' rapid sales and margin growth came to a grinding halt as worldwide growth began to slow in October 2008. For 2009, GES' strategy is to adjust its capital expenditure budget and redirect it for the best returns
About Boenning & Scattergood: Founded in 1914, Boenning & Scattergood, Inc. is the oldest independently owned investment securities firm in the Philadelphia region. The firm offers a full compliment of investment services to institutional, retail and corporate clients, including research, sales, trading, investment banking and public finance. For more information, please visit www.boenninginc.com. Member SIPC/FINRA.
This release is neither an offer to sell nor a solicitation to buy any securities mentioned herein. Please refer to the full report, which is available upon request, for additional details, risks and disclosures.
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