UPDATE: Piper Jaffray Downgrades Guess Amid Executive Departure
In a report released Thursday, Piper Jaffray analyst downgraded Guess (NYSE: GES) from Overweight to Neutral.
The note states the retailers chief design officer, Sharleen Ernster, departed from the company. Ernster is a big contributor to Guess and is known for her dedication and involvement in global design.
Concerns lay on Ernster's departure being the second upper management leave within the last few months, along with three other executive departures between November 2012 to February 2013.
Latest Ratings for GES
|Feb 2015||Piper Jaffray||Downgrades||Neutral||Underperform|
|Sep 2014||Buckingham Research||Upgrades||Underperform||Neutral|
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