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Seattle, Washington-based $JWN said for 1Q16 it had a sales increase of 2.5% & a comp decrease of 1.7%, which fell short of its plan for low single-digit increase. The company ended 1Q16 with inventory of 5%. For the balance of 2016, $JWN's lowered inventory plan puts the company in a much stronger position to manage the business more proactively.
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.