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Marketer of innovative home appliances $WHR said 1Q16 sales in Latin America were $705MM. Excluding the impact of currency, sales declined 4%. Industry in Brazil was down 13%, which was in line with the company's forecast of down 10% for the full year. Operating profit totaled $42MM, nearly 6% of sales compared to 6.6% in 1Q15.
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.