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In 1Q16, $VFC's revenue for Outdoor & Action Sports was up 2% to $1.6Bil. Jeanswear revenue was up 2% to $711MM while Imagewear revenue was down 5% to $269MM. Sportswear revenue declined 13% to $118MM. In Contemporary Brands, revenue was down 15% to $74MM, including a 53% decline in operating income.
$GOOG’s Waymo accuses Uber of stealing its intellectual property. Startup Otto, which was recently acquired by Uber, also named in the lawsuit. Stage set for another dramatic legal battle!
We all knew $VALE CEO Murilo Ferreira was going out soon, but now I hear he has no idea who will succeed him!
$JCP, another traditional retailer that just shocked us with its biggest number of store closures.