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Tracy Kogan of Citigroup asks about SG&A deleverage in 2H16. $LULU CFO Stuart Haselden said the company is seeing some modest level of deleverage, which translates to less than 100 BPs in 2H16. He added that it connects to a healthy operating margin recovery in 2H16 and earnings are expected to grow double digits in the second half of the year.
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.