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$SJM said its coffee business far exceeded expectations for 2016. Net sales were up 8% and segment profit increased 18% to $646MM, representing a full recovery of the segment profit decline in 2015. The company added that tonnage for its mainstream brands was up 3%, while units shipped were up even more given the canister downsize early in FY16.
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.