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$CBRL now projects food commodity inflation to be flat for FY16. The company sees operating margin of about 9.5% of total revenue. $CBRL expects depreciation expense of $77-78MM, net interest expense of about $14MM and capital expenditures of $100-110MM. $CBRL now sees effective tax rate of about 29% on GAAP basis, or about 31% on adjusted basis.
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.