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In 1Q17, $HRB's OpEx fell $2MM to $310MM mainly due to cost reduction efforts, partially offset by occupancy costs and amortization expense related to franchise acquisitions in the prior year. Interest expense, which is not included in OpEx, rose $13MM vs. 1Q16 due to issuances of long-term debt in Sept. 2015. Pre-tax loss rose $16MM to $203.5MM.
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.