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Guess joins list of retailers that are shrinking their store footprint

Bloomberg

Guess has shut 52 stores since last year and has left to door open to shutter even more.

As part of an effort to turn around its faltering Americas business, Guess Inc. says it has identified 50 stores that it plans to close through the end of next year if it can’t negotiate rent reductions.

The fashion and accessories retailer includes the U.S., Canada, Brazil and Mexico in its Americas business.

Guess GES, -10.18% shares were down 10% on Thursday after the retailer reported lower-than-expected third-quarter results. Sales totaled $536.3 million, up from $521.0 million in the same quarter last year, but below the $549.0 million FactSet consensus.

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