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Apparel company $GIII reported 4Q16 net income of $8MM or $0.17 per diluted share, down 64.2% versus $22.2MM or $0.48 per diluted share in 4Q15, hurt by higher cost of sales and expenses. Net sales rose 2.6% to $527.4MM, helped by strength in wholesale businesses and G.H. Bass retail.
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.