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$M expects comparable sales on an owned plus licensed basis to decline by about 1% in FY16, with comparable sales on an owned basis to be about 50 basis points lower. Total sales are expected to be down by about 2%, reflecting 40 stores closed in 2015. $M expects 2016 EPS of $3.80-3.90 and capital expenditures of about $900MM.
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.