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Retail giant $WMT reported a 7.9% decline in 4Q16 earnings due to lower sales and higher operating, selling, general and administrative expenses. Net income slid to $4.57Bil or $1.43 per share from $4.97Bil or $1.53 per share last year. Revenue fell to 1.4% to $129.67Bil. Adjusted EPS decreased to $1.49 from $1.61.
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.