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Victoria's Secret and Bath & Body Works stores owner $LB reported a jump in 2Q16 earnings on lower costs and expenses as well as other income. Net income grew to $252.42MM or $0.87 per share from $202.48MM or $0.68 per share last year. Adjusted EPS increased 3% to $0.70. Net sales rose to $2.89Bil from $2.77Bil. Comparable sales grew 3%.
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.