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$SPLS and $ODP said they would sell more than $550MM in their large corporate contract business and related assets to Illinois-based office supplier $ESND. Essendant will pay Staples approx. $22.5MM. "We're pleased to reach this agreement with Essendant as we continue to work to complete the acquisition of Office Depot," said $SPLS CEO Ron Sargent.
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.