LOOKING AHEAD

Some analysts foresee a somewhat better year for sales and earnings in 2004, which could translate into gains for more companies' stocks, but they say the same competitive pressures that impacted traditional players in 2003 will be there again in 2004."I think 2004 is going to be a very interesting year for the industry," said Edouard Aubin, analyst, Deutsche Bank, New York. "It's definitely an important

Some analysts foresee a somewhat better year for sales and earnings in 2004, which could translate into gains for more companies' stocks, but they say the same competitive pressures that impacted traditional players in 2003 will be there again in 2004.

"I think 2004 is going to be a very interesting year for the industry," said Edouard Aubin, analyst, Deutsche Bank, New York. "It's definitely an important year, but I don't know if it will be a turning point."

He thinks traditi

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