Guess Future Still Bright Without Alberini

Guess shares are tanking following the news that President Carlos Alberini is departing.
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NEW YORK (

TheStreet

) -- The departure of

Guess'

(GES) - Get Report

president shouldn't shake up the retailer's best in class performance, yet its stock is taking a beating on the news.

The future of Guess without Carlos Alberini, who is taking the reins at

Restoration Hardware

, doesn't look much different than it does with him on board.

True, Alberini was part of the group that turned the company around when it was in a financial mess. He also helped spearhead Guess' European business and turned the company from a wholesale model into a growth model.

Still, the system to continue on Guess' upward trajectory will remain in place, says Brean Murray Carret analyst Eric Beder.

Regardless, shares of Guess are losing 6.6% to $41.25 in morning trading. Beder says he would use this weakness in the stock as an opportunity to add or initiate a position in Guess.

Guess is currently searching for a chief operating officer and president of the Americas.

--Reported by Jeanine Poggi in New York.

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