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Operator of membership warehouses $COST said that 3Q16 reported GM was higher by 34 BP, which included a $19MM benefit from non-recurring legal settlements. This represented 7 BP of margin improvement or about $0.03 a share. The company said that it expects to have the new co-brand Visa cards for its members by the end of May, early June.
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.