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Foodservice retailer $RT said 3Q16 was affected by weather, softness in the casual dining industry, and increased promotional activity by peers. Same-restaurant sales fell 3.1% and restaurant-level margins fell 10 BP in the quarter, mainly due to sales deleveraging. Guest count fell 5.9%, about 360 BP below the industry.
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.