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$DRI reported total operating costs and expenses of $1.63Bil in 3Q16. Food and beverage costs fell as a percentage of sales due to cost savings initiatives, favorable pricing and food cost deflation. Restaurant labor costs rose due to wage-rate inflation, higher manager bonus and salary costs. Restaurant expenses rose due to higher rent expense.
$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.