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$CPB's 3Q16 net sales fell 2% versus 3Q15, mainly due to lower volume and higher promotional spending. Sales performance reflected declines in US soup, V8 beverages and fresh carrots. Gross profit, as a percent of sales, fell to 35.3% in 3Q16, mainly due to higher losses on pension and post-retirement benefit mark-to-market adjustments.
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.