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In 4Q15, total sales in $LB's Victoria's Secret segment increased 9% to $2.6Bil and comps increased 5%. Operating income grew 17% to $593.6MM and operating income rate increased 150BP to 22.7%. In Bath & Body Works, total sales were $1.5Bil, up 8% to last year. Comps increased 6% and direct channel sales grew by 24%.
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.