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Ben Bienvenu of Stephens Inc. asks about expense reduction. $CST said it has updated its labor model in its stores and this has led to some reductions in costs. Another focus is on maintenance and the company has put in some processes to reduce costs in this area. The company is also looking for ways to reduce the level of G&A costs.
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.