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In 2Q16, $SHLM had gross profit, excluding certain items, of $94MM. Adjusted GM was 15.9% versus 14.5% in 2Q15. Excluding Citadel and currency translation, adjusted GM improved by 80BP. Adjusted operating margin across the legacy businesses expanded by 150BP.
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.