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In FY15, $GPS closed about 150 global specialty stores related to the strategic actions taken to improve future business performance. Company incurred some charges in FY15 due to these actions, mainly consisting of impairment of store assets, lease termination fees and lease losses, and employee related expenses.
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.