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Caroline Levy of CLSA asks what is A&M as a percent of sales for beer in 1Q17 and whether $STZ still sees it at 8.5-9.0% for the year. CFO David Klein said 8.5-9.0% is across the entire beer business and added that $STZ has begun advertising on Pacifico on a broader scale than it has in the past and saw depletion growth of around 17% in 1Q17.
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.