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$NKE expects the full year 2017 gross margin rate to contract. For 2Q17, gross margin is expected to contract by approx. 125 BPs with the rate in 2H17 approaching flat versus the prior year. For total SG&A, the company expects full year growth in the mid to high single digits with 2Q17 growing in the low to mid-single-digit range.
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.