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$BF.A 1Q16 PR: Reported net sales down 2% to $900MM, but up 7% on an underlying basis, compared to $921MM in the prior year period. Reported operating income up 3% to $227MM, an increase of 9% on an underlying basis, compared to $221MM in the prior year period. Net income for the quarter was up by 4% to $156MM vs. $150MM in the prior year period.
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.