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$KSS said its gross margin increased 53 BPs for 2Q16, a significant improvement over the 140 BP decrease seen in 1Q16. The increase was driven by savings in both promotional markdown and permanent clearance markdowns. The company's SG&A fell $19MM to $986MM for 2Q16 and deleveraged only 3 BPs on a 2% decline in sales.
What will be an ideal EPS range for $PZZA in its earnings today?
The U.S. Treasury will be receiving $10 billion as dividends from the combined government-backed mortgage giants Fannie Mae and Freddie Mac. This is a sign that a recovered housing market is allowing the once-ailing firms to subsidize federal government spending.