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$HBI said its gross and operating margins fell in 2Q16 due to about $12MM in costs associated with inventory-related actions. Interest and other expense, excluding one-time costs associated with refinancing actions, grew about $8MM due to increased debt balances, $6MM of which was due to company's decision to prefund its recent acquisitions.
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.