Guess Inc reported a 23.5% decline in profits for the second quarter of 1995. The clothing manufacturer earned $12.3 million on sales of $92.9 million in the quarter, compared to earnings of $16.1 million on sales of $111 million in the previous quarter. The company had been dropping certain accounts that were not financially stable or did not fit the company's image. Department store sales of Guess clothing were about the same as the previous quarter, due partly to a slow retail climate.

* GUESS QUARTER SAGS: Pruning its accounts, Guess Inc, reported profits slumped 23.5 percent in the second quarter ended July 2 and sales dropped 16.3 percent.

Earnings fell to $12.3 million from $1 ...