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$ANF stated that it extended its brand reach through its second major franchise partnership to establish retail store presence in Saudi Arabia, Qatar, Bahrain & Oman. The company expects to open the first stores in Qatar in 1Q17 & in Saudi Arabia in 2H17. During 1Q16, $ANF continued to shift to the higher margin, made-for-outlet merchandise model.
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.