$JPM 2Q15 Q&A Update - Marianne, CFO: On deposit shrinkage, we actually exceeded our commitment, so we actually shrunk our non-operating deposit by more than $100Bil and not just grew our consumer deposit but we were also able to grow wholesale operating deposit. So we had good mix shift both in consumer vs. wholesale.
$TGT's sales for 4Q16 decreased 4.3% from last year, reflecting a 1.5% decline in comparable sales combined with with the removal of pharmacy and clinic sales from this year's results. Comparable digital channel sales grew 34% and contributed 1.8 percentage points of comparable sales growth.
$TGT reported a 42.7% drop in 4Q16 earnings due to the impact of rapidly-changing consumer behavior, which drove very strong digital growth but unexpected softness in stores. Net income fell to $817MM or $1.45 per share from $1.43Bil or $2.32 per share last year. Sales declined 4.3% to $20.69Bil. Adjusted EPS decreased 4.6% to $1.45.
$FTR reorganized its business structure with the creation of new consumer and commercial business. The company said that the previous structures were more regionally focused and it had seven regions structure before the reorganization.