Tipsheet: Bezos Divorce | JCP -3.5% | Costco Tiffany Loss
Court gives Sears new life, allows Chairman Eddie Lampert another chance to save retailer at CNBC. “Lampert’s hedge fund, ESL Investments, will now be required to pay a $120 million deposit by 4:00 p.m. Wednesday. Sears will then allow Lampert to participate in a previously scheduled auction on Monday.” Read more
JCPenney comp sales fell 3.5% for the nine weeks ended Jan. 5 at CNBC. “On an “unshifted basis,” sales were down 5.4 percent at stores open at least a year.” Read more | Press release
Costco loses bid for new trial in Tiffany trademark lawsuit at Reuters. “A federal judge in Manhattan has declined to grant retailer Costco a new trial or amend a $19.4 million judgment against it in a trademark lawsuit by Tiffany & Co accusing it of falsely labeling its rings as “Tiffany” jewelry on store display cases.” Read more
LuLaRoe Founders Accused of Hiding Millions to Avoid Creditors by Claire Suddath at Bloomberg. “Late last year, Los Angeles-based clothing maker MyDyer sued LuLaRoe, claiming the company owes it $48.7 million for products and services. MyDyer also sued the Stidhams, saying they’d set up more than 20 limited liability companies as part of a “scheme to hinder, delay and defraud” creditors like MyDyer.” Tiered subs.
Jeff Bezos and wife MacKenzie are divorcing at CNBC. “The billionaire executive announced the news Wednesday in a tweet signed by both of them. “We want to make people aware of a development in our lives. As our family and close friends know, after a long period of loving exploration and trial separation, we have decided to divorce and continue our shared lives as friends,” the tweeted statement says.” Read more
California Democrats made plastic straws hard to get. Are paper receipts next? by Bryan Anderson at Sacramento Bee. “Assemblyman Phil Ting, D-San Francisco, unveiled a plan on Tuesday to take the state off of printed receipts. Under Assembly Bill 181, businesses would have to give customers electronic receipts if they don’t ask for physical copies.” Read more
Food stamps guaranteed through February, USDA says at CNN. Read more
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After over a million pre-orders, Amazon’s Echo Auto has begun to ship by Sarah Perez at TechCrunch. “What Amazon didn’t explain is why the device has remained in pre-order status for so long, why it largely missed the holiday season with this ideal stocking stuffer-type of product or when it would finally exit “invite only” status for good.” Read more
DoorDash CEO wants to bring you more than just food by Eric Johnson at Recode. “We started with food just because it was the hardest problem,” Xu said. “It’s not just because it’s high frequency, but because if you can figure out food … if you can deliver something in 30 minutes, you can deliver something in an hour. The reverse is not true.” Q&A
Neiman Marcus settles data breach for $1.5 million at Baltimore Sun. “The breach, which took place over several months in 2013, compromised names and payment card data collected at 77 Neiman Marcus stores throughout the U.S.” Read more
Apple CEO Tim Cook talks to Jim Cramer at CNBC. “If you zoom out into the future, and you look back, and you ask the question, ‘What was Apple’s greatest contribution to mankind?’ It will be about health,” Cook said.” Video/Read more
There’s always money in the (Amazon) banana stand, even at CES by Nat Levy at GeekWire. “Though it’s a regular site in Seattle, many weary attendees appeared initially puzzled by the concept, before giving in and accepting a Potassium-filled power up.” Read more
Tipsheet Extra Stories
Rare penny found among lunch money change could go for up to $1.7 million
The ‘Right to Repair’ Movement Is Gaining Ground and Could Hit Manufacturers Hard
Stan Lee’s devoted fans can mourn him at Hollywood memorial
People left key fobs inside their cars and auto theft hit an 8-year high
‘Game of Thrones’ Prequel Casts 8 Rising Stars
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