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$VRA expects 3Q17 net revenues of $128-133MM, gross margin of 58-58.5% and EPS of $0.22-0.24. The EPS forecast is based on diluted weighted-average shares outstanding of 36.6MM and an effective tax rate of 38.1%. The company predicts selling, general and administrative expenses as percentage of revenue of 47.6-48.6% and inventory of $95-100MM.
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.