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$EL's cost of sales as a percentage of total net sales decreased to 19% in 3Q16 as compared with 19.5% in the prior-year period. This reflected a favorable impact of manufacturing variances of approx. 80BP and a decrease in shipments of promotional items and gifts of approx. 30BP. Opex, as a percentage of net sales, increased to 66.5% in 3Q16.
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.