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Upscale clothing brand and retailer $GES reported lower profit in 1Q17, with net loss of $25.2MM or $0.30 loss per share vs. net earnings of $3.3MM or $0.04 per diluted share in 1Q16. Total net revenue fell 6.3% to $448.8MM during 1Q17. The revenue also decreased 5% in constant currency.
$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.