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US discount retailer $BIG reported a jump in 1Q16 results, helped by higher net sales and higher other income. $BIG said net income from continuing operations rose 20% to $38.6MM, or $0.79 per share from $32.3MM, or $0.60 per share a year ago. Revenue rose 2.5% to $1.31Bil. Excluding items, $BIG earned $0.82 per share.
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.