Downward dog on the earnings... Lululemon fell 8% after the athleisure darling reported a 17% quarterly sales plunge. Lulu's flexible ecommerce biz wasn't enough to swallow the hit from corona-closed stores. As of June 10th, 60% of Lulu's 489 global stores have reopened. All are expected to open by the end of June — but Lulu's not expecting a return to yearly sales growth until the end of 2020.
When the suave British accent swoops your crush... Uber's potential marriage with Grubhub is off after a European delivery giant swooped in. Anglo-Dutch Just Eat Takeaway is acquiring Grubhub for $7.3B. Uber shares dropped 8% when its food delivery consolidating dream evaporated. An Uber Eats/Grubhub merger would've made it the delivery leader with half the US market — progressive politicians weren't thrilled about the idea, which reportedly doomed the merger's chances. Now Postmates could be Uber's consolation prize.