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Victoria's Secret and Bath & Body Works stores owner $LB reported a drop in 1Q16 earnings due to higher costs and expenses. Net income fell to $152.31MM or $0.52 per share from $250.47MM or $0.84 per share last year. Adjusted EPS declined to $0.59 from $0.61. Net sales grew to $2.61Bil from $2.51Bil. Comparable sales grew 3%.
$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.