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Fashion Retailer Guess Testing New Concept.(B)(NYSE STOCKS IN THE NEWS)
Byline: David Saito-Chung
Guess has enjoyed a brisk run since March 2003. The stock ramped out of a three-month cup-shaped base in February this year and stroked new highs, but slipped back into the base.
The Los Angeles-based fashion apparel and accessories firm sells under the Guess brand. As of Aug. 28, Guess ran 267 retail stores in the U.S. and Canada. Sales slumped in both 2001 and 2002, but have risen 10% or faster in the past three quarters. Same-store sales grew 5.9% in August.
In early August, Guess announced it plans to open five stores in the second half of 2004 to test a new store concept …
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