Target Canada owes billions to long list of creditors by Marina Strauss at Globe & Mail. “Much of Target Canada’s amounts owing are in the thousands or tens of thousands of dollars per creditor, but some are noticeably larger. Target owes more than $4.2-million to Warner Bros. Entertainment Group, almost $2.2-million to Universal Studios Canada Inc. and more than $3-million to grocer Sobeys, which supplied food to the U.S.-based chain.”Read more
Costco can keep selling gray market Omega watches by David Post at The Washington Post. “Omega misused its copyright “by leveraging its limited monopoly in being able to control the importation of [the Globe Design] to control the importation of its Seamaster watches.”Read more
NY Post: Family Dollar shareholders to approve Dollar Tree takeover by Josh Kosman. “The $8.5 billion takeover is also likely to open a new chapter in the retail sector — about how Richard Dreiling, CEO of the No. 1 chain in the sector, Dollar General, misread regulators and blew his chance to grab hold of the long-coveted Family Dollar chain…“They should have approached the Federal Trade Commission earlier [about its higher rival proposal] and been more hostile with them,” a hedge fund trader said Wednesday about Dreiling and Dollar General.”Read more
Amazon Pulls Its Line of Diapers Less Than Two Months After Launch by Jason Del Rey at Recode. “Amazon’s grand plan to sell its own line of diapers has crapped out after seven weeks. At least for now…“Based on early customer feedback, we are making some design improvements to the diaper,” the company said in an email to customers on Wednesday that was flagged by Gigaom. Amazon offered these shoppers a $25 credit for their troubles and said they’d these like customers to try out the new diapers when they are ready for sale.”Read more
Sam’s Rosalind Brewer: Gas prices now fueling spending by Tom DiChristopher at CNBC. “We saw the turn just before the holiday. We saw the oil prices moving and gas prices moving at the same time. We saw traffic tick up,” she said during a CNBC “Squawk Box” interview from the World Economic Forum in Davos, Switzerland.”Read more
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EBay’s breakup plans may open door for e-commerce M&A at CNBC. “No one knows what’s going happen down the road,” Donahoe said in an interview on Wednesday, after eBay reported fourth-quarter earnings. “But each business will have the flexibility they need to do what they need to do to win.”Read more
…eBay to shed 2,400 jobs by Jeremy Owens & Patrick May at Mercury News.Read more
Tracy Morgan Crash: James McNair’s Family Reaches Settlement With Walmart by Aaron Katersky at ABC News. “The amount of the settlement was subject to a confidentiality agreement between Walmart and McNair’s children, 19-year-old Danita and 26-year-old Jamel.”Read more
Former founding director of Lowe’s home improvement dies by Fran Daniel at Winston-Salem Journal. “(“Pete”) Kulynych joined Lowe’s in November 1946 as a bookkeeper and the company’s first employee. He became one of five men to manage the home-improvement company when Ralph Buchan, who co-owned Lowe’s with Jim Lowe, died in 1960. He helped take the company public in 1961.”Read more
Walgreen Co. Is the Latest to End Monthly Sales Reports at Nasdaq. “…preferring to detail its performance in a “single unified report” when it reports quarterly results.” Read more
Home Depot wants 250,000 square feet in Marietta, GA for IT center by Carla Caldwell at Atlanta Business Chronicle. “The Home Depot is looking to move its IT center to a vacant building off Franklin Road in Marietta. The move would bring 1,200 jobs to the site.”Read more
Target aiming TargetExpress format at Washington, D.C. area by Rebecca Cooper at Washington Business Journal. “Target Corp. is in talks to take retail space in an office building at 1500 Wilson Blvd. in Arlington, Va. The retailer declined to confirm it is considering space in Arlington but acknowledged it is targeting the Washington metro area.”Read more
Amazon ends its mobile wallet app trial after six months by April Dahlquist at Internet Retailer. “Amazon’s success has made it increasingly hard for them to partner with top retailers who view them as a competitive threat,” Wingo says.”Read more
Daughter Knows Best: Inside The 84 Lumber Saga by Dan Alexander at Forbes. “In March 2009 Maggie Magerko sat in her office, ignoring her dad’s phone calls. When she finally picked up, things went downhill fast: He told her she was thinking irrationally. She let out a stream of expletives and hung up. The stakes surrounding this father-daughter clash could hardly have been bigger. The housing market was collapsing, taking construction down with it…”Read more
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