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$LEN said the company has been working on reducing customer acquisition costs. The company has been moving advertising and marketing spend away from conventional marketing to a digital platform. In 2Q16, $LEN saw the benefit of this focus as SG&A was reduced significantly to 9.3%.
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.