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New York-based company $GIII said 2Q17 results did not meet expectations. The non-outerwear wholesale business was strong in all categories and had double-digit growth. The $40MM shortfall in $GIII's net sales against guidance primarily reflects later-than-expected timing for outerwear shipments and the shortfall in retail outlet sales.
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.