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$ANF said that 1Q16 stores and distribution expense was $369.1MM, down from $391.6MM in 1Q15, primarily due to expense reduction efforts and the realization of savings on lower sales. This was partially offset by higher direct-to-consumer expense. 1Q16 net other operating income was $2.9MM vs. $2.0MM in 1Q15.
$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.