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Retailer $UA said it will take an impairment charge of approx. $23MM for 2Q16 as its partner and sports goods retailer The Sports Authority is liquidating its 450 stores in 27 states. In addition, due to the bankruptcy, $UA was only able to recognize $43MM of the originally planned $163MM in revenues with The Sports Authority for 2016, $UA said.
$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.