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Apparel and accessories supplier $SSI said in 1Q16, comp sales in the Texas, Louisiana, Oklahoma and New Mexico stores were down 12.4%. Merchandise margins improved slightly and inventories were well-controlled. The company ended 1Q16 with inventories down 1% overall and down 4%, excluding cosmetics.
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.