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Operator of specialty department stores $SSI posted lower 2Q16 earnings hurt by a challenging retail environment and continued regional pressure from depressed oil prices and the weak peso. Net income was $0.04MM, or $0.00 per diluted share vs. $1.62MM or $0.05 per diluted share in 2Q15. Net sales fell 11.2% to $338.4MM vs. $380.9MM in 2Q15.
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.