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$RL 1Q16 PR: Wholesale net sales were $642MM vs. $708MM in 1Q15. Retail net sales were $935MM vs. $960MM in 1Q15. Licensing revenues were $41MM vs. $40MM in 1Q15. Segment operating income: Wholesale $137MM vs. $180MM in 1Q15; Retail $110MM vs. $168MM in 1Q15; Licensing $36MM, flat YoverY.
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.