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$LCI expects FY17 net sales of $690-700MM, GAAP gross margin of 50-51% and adjusted gross margin of 55-56%. The company projects FY17 R&D expense of $49-51MM, SG&A expense of $68-70MM and interest expense of $93-94MM. $LCI sees effective tax rate of about 34% and capital expenditures of $55-65MM.
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.