$FRED reported sales for four-week fiscal month ended Nov. 26, 2016 of $159.7MM, down 3.6% from $165.7MM in Nov. 2015. Comparable store sales for Nov. declined 2.9% compared to an increase of 1.7% in the year-earlier month.
Discount retailer $FRED reported a loss for 3Q16, due to charges
totaling $38MM after tax, mainly related to inventory
write-downs and closing of 40 stores scheduled to occur in 1H17. $FRED reported
a net loss of $38.4MM or $1.05 per share compared to a net income of $1.44MM or
$0.04 per share in 3Q15. Revenue fell 4.5% to $516.65MM.
$NAVI's BoD approved a new share repurchase program for up to $600MM of the company's outstanding common stock. This authorization allows the company to repurchase its shares effective Jan. 1, 2017. During 2016, $NAVI completed its previously announced share repurchase authorization program by repurchasing 59.6MM shares for $755MM.
$AVGO expects net revenues of $4.06Bil. GM is expected to be 47% while Opex is
expected to be $1.4Bil. Capex is expected to be approx. $330MM. Depreciation is
expected to be $116MM and amortization is expected to be approx. $999MM in 1Q17.
Cash taxes expected to be paid during FY17 are approx. $400MM.