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In 1Q16, $M completed a $270MM real estate transaction that will enable the re-creation of Macy's Brooklyn store. Due to this transaction, company will recognize a gain of about $250MM of which $84MM was recognized in FY15 and $4MM in 1Q16. The remaining gain is anticipated to be recognized over next 2 years.
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.