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For 2015, $LB's other income increased $69MM to $76MM primarily driven by a pre-tax gain of $78MM. This was due to the divestiture of the remaining ownership interest in the company's third-party apparel sourcing business to Sycamore Partners. For 2015, $LB's effective tax rate fell to 35.2% from 36.3%.
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.