Guess Again! The Apparel Giant's Outlook Amid Unpredictable Consumer Spending And European Uncertainties
Portfolio Pulse from Shivani Kumaresan
Telsey Advisory Group analyst Dana Telsey reiterated a Market Perform rating on Guess? Inc (NYSE: GES) with a price target of $23. GES reported better-than-expected 1Q23 results, but management expects 2Q23 revenue to be flat to down 1.5% YoY. The company's outlook reflects cautious consumer spending in the US and uncertainties in Europe.
May 26, 2023 | 4:20 pm
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Guess? Inc (NYSE: GES) reported better-than-expected 1Q23 results, but management expects 2Q23 revenue to be flat to down 1.5% YoY. The company's outlook reflects cautious consumer spending in the US and uncertainties in Europe.
Guess? Inc reported better-than-expected 1Q23 results, which could have a positive impact on the stock price. However, the cautious outlook for 2Q23 due to uncertain consumer spending and European uncertainties may offset the positive sentiment, resulting in a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100