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$GIII said in the Donna Karan business, the DKNY brand alone has the potential to generate at least $1Bil in annual sales. $GIII sees a huge opportunity to grow the business particularly in the core US market. $GIII is confident it can end the third year post closing with the entire DKNY business running at a rate of $750MM in annual sales.
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.