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$CHS said that Soma brand's overall comparable sales were hurt by the challenging traffic environment in 1Q16. CFO Todd Vogensen said that the strong online volume was not enough to offset the overall weakness. During 1Q16, $CHS opened 7 new stores and closed 8 stores. $CHS plans to close approximately 50 stores in FY16.
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.