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In 2Q16, $FIVE's gross profit rose 22.6% to $73.4MM vs. $59.8MM in 2Q15. GM increased by 50 BP to 33.3% driven mainly by the leveraging of distribution costs. SG&A as a percent of sales, fell to 26.2% vs. 26.5% in 2Q15 and operating income rose 36% to $15.7MM or 7.1% of sales. The company's effective tax rate was 37.6% vs. 37.1% in 2Q15.
Late realization to $T that it cannot compete in the unlimited data market with its existing plans! Its newly launched plans seem more reasonable.
Wow, the new $HPE Pro x2 612 G2. Finally, a Surface Tab you can use for business!
$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!