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In 2Q16, $DRI's total operating costs and expenses were $1.53Bil and as a percent of sales, total operating costs and expenses decreased to 94.9%. Net interest expense increased as a percent of sales primarily due to the $35.6MM of debt retirement costs recorded in 2Q16. The effective income tax rate was 23.4% for 2Q16.
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.