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$WFM, a retailer of natural and organic foods, reported a drop in net income in 2Q16, hurt by higher expense. Net income slid to $142MM in 2Q16 compared to $158MM a year ago. EPS remained flat at $0.44. Revenue grew 1.3% to $3.7Bil compared to prior year quarter. Comparable store sales decreased 3%.
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.