Which means they were the vast majority of the comp sales the in store sales were. 9 . The stores fulfilled 80 of the digital orders in some way Brian Cornell said the retailer will spend 500 million from the beginning of march through july 4th on higher wages and other operational expenses related to the covid crisis so this spending goes beyond q 1 into q 2 not directly comparable with what we heard from walmart yesterday. The sales came at a cost their operating Income Margin was 2. 4 compared to 6. 4 in the same period last year and the gross margin rate was 25 compared to nearly 30 last year but then look at lowes, Michael Baker calls lowes perhaps the most surprising result of the quarter for retail their comparable sales grew more than 11 total up more than 12 in the u. S. Thats only the fourth time in at least ten years we think that lowes beat home depot in the u. S. Both retailers had identical online sales growth in the quarter of 80 but that is a huge growth compared to las
Decision easterbrook, of course, took over as ceo in march of 2015 before todays move, the stock was up 96 under his leadership since he took over under that tenure, the company sold off many of its company own stores to franchisees and previeded over the launch of alldaybreak fast and mcdonalds named usa president the new ceo of the company but a lot to talk about there. Joining us to have that conversation right now about leadership change at mcdonalds, jeff simonfeld and cnbc contributor. This was a huge surprise, jeff clearly made a mistake but it was a consensual relationship and we now had a handful of these situations how do you read it well, we do see a trend here that of these roughly 90 ceos who left office last year is 40 of them was for misconduct we havent seen numbers that high 40 for misconduct and most of that misconduct was had to do with improper relationships at work but you make an important distinction, this was consens l consensual we say Harry Stonecipher at boei
The british Prime Minister says he wants a fast track visa scheme to attract foreign scientists to the uk. Now on bbc news live to singapore for Asia Business report. Hoover disappointing. Shares are down sharply after the firm reported its latest results uber. Brisk domestic demand, japans economy grew stronger than expected, betrayed tensions are expected to weigh the future. In the future. Hello and welcome to this friday edition of Asia Business report. Im Sharanjit Leyl. Edition of Asia Business report. Im shara njit leyl. We edition of Asia Business report. Im Sharanjit Leyl. We start with uber because it shares are falling sightly in extended wall street trade sharply. The firm has lost over 5 billion in the three months tojune. Over 5 billion in the three months to june. The bbcs over 5 billion in the three months tojune. The bbcs Michelle Fleury has more. Responding to urban puzzle make Second Quarter results, ubers Second Quarter results. Uber has turned into the magical mone
Big tech is under the spotlight today, with leading firms summoned to the white house for a meeting on curbing violent online extremism. It comes just days after two Mass Shootings in the us, which left 31 people dead. The suspect in the texas shooting posted material on the controversial 8chan online message board before the attack. Pressure was already mounting on tech firms after the christchurch shootings in new zealand, which were livestreamed on facebook. 51 people perished in the attack. The Global Internet forum to counter terrorism, set up by firms like facebook and twitter, have already pledged to do more to identify and remove extremist content and says its rolled out a Cross Platform counter violent extremist toolkit. The forum has also promised to do more to block offensive content as violent events actually unfold. But that may not be enough for white house officials. Donald trump says he wants the tech firms to develop tools that can detect mass shooters before they stri
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