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For YTD, $SYY said that total broadline cases grew 3.3% and local cases grew 2.9%, with sales being up 1.2%, despite adversely being impacted by deflation and and FX headwinds. Growth in gross profit dollars was 3.3% with GM growth of 35 BP. Adjusted operating income rose $100MM or about 8% vs. prior year.
$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.