After spending the past few years bouncing between a two- and three-star rank, Guess? (NYSE: GES) has recently impressed enough top-performing members of our 165,000-strong Motley Fool CAPS community to break out and reach four stars. A total of 598 members have given their opinion on the clothing and fashion firm, with many offering analysis and commentary to explain their recent optimism.

Guess? recently followed up a solid fiscal fourth quarter with record first-quarter revenue and earnings, following in the footsteps of peer Aeropostale's (NYSE: ARO) record earnings per share. The company delivered a North American quarterly same-store sales increase of 9.7% while major U.S. department stores have signaled a positive start to summer, as both Macy's (NYSE: M) and Nordstrom (NYSE: JWN) beat analyst expectations with increases in June same-store sales.

Many experts are forecasting a big back-to-school shopping season, spurring many retailers to prepare for an uptick in sales. J.C. Penney (NYSE: JCP), for one, says it's well-positioned for the season.

While there have been signs that U.S. consumers are beginning to spend again, many companies have implemented downright crazy promotions to move merchandise, and have subsequently seen results suffer.

American Eagle Outfitters (NYSE: AEO) saw its first-quarter earnings halved because of one-time items and Abercrombie & Fitch (NYSE: ANF) posted a quarterly loss, hurt by promotions and higher expenses. Guess? itself isn't perfect; the company cut its full-year profit outlook because of the decline in the euro, dealing a blow to its shares in recent months. But some CAPS members see this as a rare chance to jump on discounted shares, citing a rising dividend in recent years and strong cash flow as reasons to stay in the stock.

The solid performance of Guess?'s domestic business is only part of the story. The company sees great opportunities in continued expansion outside the U.S. and Canada. With the global recognition of the Guess? brand, the company doesn't believe it needs to rely on any one particular region. Sales from Europe and Asia accounted for a significant portion of its revenue increase in the first quarter and it sees much of its growth opportunity coming from international markets.                        

Do you think Guess? deserves its raised status? Add your thoughts in the comments box below on this page, or head over to CAPS to rate the company and check out all the information the community offers.