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During FY16, $GIS reported net sales of $16.6Bil, down 6% as reported and down 2% in constant currency. Organically, net sales rose modestly and total segment operating profit rose 1% in constant currency to $3Bil. Net earnings rose 39% to $1.7Bil and diluted EPS was $2.77 as reported. Adjusted diluted EPS was $2.92, up 2% from FY15.
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.