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$KR recorded a $21MM LIFO charge during 2Q15 vs. $26MM in the same quarter last year. FIFO gross margin was 21.5% of sales for 2Q15. Excluding retail fuel operations, FIFO gross margin was down 7 BPs in 2Q15 from the same period last year. FIFO operating profit, excluding fuel, increased approx. $93MM in 2Q15 over the prior year.
$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.