Want to join the conversation?
$VFC, known for popular casual wear brands like Lee, Wrangler and 20x, reported a lower quarterly profit, hurt by net loss from discontinued operations. Earnings from continuing operations also dropped due to higher tax. For 2Q16, the company reported earnings of $51MM, or $0.12 per share, down from $170.8MM, or $0.40 per share a year ago.
The latest earnings report by $VZ shows how it is losing customers despite offering the unlimited data plans, a record for the company.
$BEBE is closing down all its stores by the end of May.
$WFC agreed to hike its payout in a class-action settlement over unauthorized accounts by $32 million to $142 million for its retail sales practices. The settlement will now include customers who were impacted as early as May 2002.