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In 2016, $GPS expects Capex to be about $650MM with a continued focus on mobile and supply chain capabilities. Depreciation and amortization are expected to be about $560MM. Total inventory is expected to be down in the low single digits at the end of 1Q16. Full-year effective tax rate will be about 38%.
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.