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In 2016, $CATO plans to open 23 new stores and close up to 17 stores. CapEx is expected to be about $27MM, including $11MM for store development and investment to upgrade existing systems. Depreciation is expected to be $23MM in 2016, and effective tax rate is expected to be about 33%.
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.