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Lazard's Todd Slater cuts ratings on retail, apparel and footwear, saying the sector "will need...

Lazard's Todd Slater cuts ratings on retail, apparel and footwear, saying the sector "will need to show revenue growth to drive double-digit earnings growth and justify the next leg up." Saks (SKS -2.6%) was cut to sell. Reduced to hold from buy: American Eagle Outfitters (AEO), Jones Apparel Group (JNY), Guess (GES), Warnaco (WRC).
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