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Grocery distributor and retailer $SPTN reported a decline in 1Q16 earnings due to higher restructuring charges and lower sales in the military and retail segments. Net income slid to $9.85MM or $0.26 per share from $10.33MM or $0.27 per share last year. Net sales fell to $2.28Bil from $2.31Bil. Adjusted EPS rose to $0.54 from $0.44.
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.