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$GIS's SG&A expenses decreased $73MM in 2Q16 compared to 2Q15, primarily due to savings from Project Catalyst and other cost management initiatives, and a 15 percentage point decrease in media and advertising expense. SG&A expenses as a percent of net sales in 2Q16 decreased 50 BP compared to 2Q15.
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.