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03-15-2012, 10:49 AM
NEW YORK (MarketWatch) -- Fashion label Guess Inc. shares slumped 12% on Thursday after the company gave disappointing first-quarter and full-year profit forecasts. Teen-retailer Rue21 Inc.'s shares dropped 8.4% after its fourth-quarter comparable sales fell more than analysts expected and the midpoint of its first-quarter forecast range also came in short. Vera Bradley Inc. shares fell 10%, also on a disappointing first-quarter forecast. Ross Stores Inc. shares dropped 2.7%. The company's fourth-quarter profit matched Wall Street expectations. Chief Executive Michael Balmuth said he's confident the retailer will generate "respectable increases in both revenues and earnings per share in 2012 and beyond."
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