Toys R Us exec gets three years for embezzling nearly $2M by Priscilla DeGregory at NY Post. "Chon’s lawyer, Jeffrey Lichtman, argued his alcoholism and troubled childhood including an abusive father led to his actions, “He was obviously mentally ill. He was spending the money on one stupid thing after another to get the love and adoration of his peers, to get the love he wasn’t getting when he was young.” Read more   BEST BEHAVIOR - Jeff Bezos on Wednesday's Trump Meeting: “I found today’s meeting with the President-elect, his transition team, and tech leaders to be very [...]

  Costco to open first business centre in Canada — a move that could ‘devastate’ wholesale distributors by Hollie Shaw at Financial Post. "The first location in Canada... will open in Toronto in March. Costco’s business centres open at 7 a.m., three hours before warehouse stores open in Canada, and close at 6 p.m. through the week and 4 p.m. on Saturday." Read more   Neiman Marcus reignites retail worries as sales plummet by Lisa Fickenscher at NY Post. "It’s hard to cast these results in a positive light,” Chief Executive Karen Katz said in an investor call. “They are very [...]

  AirPods are now up for sale on Apple’s site, will start arriving just before Christmas by Brian Heater at TechCrunch. Read more   Kroger & Fred's poised to buy Walgreens/Rite Aid stores by Steve Watkins at Cincinnati Business Courier. "A real estate executive told CTFN that Kroger is in line to buy some of the stores while discount pharmacy chain Fred’s is set to buy what that person called a “substantial” number of stores. Two private-equity firms also are likely to buy some stores, according to CTFN." Read more   Lowe’s Canada to convert 40 Rona big-box stores next [...]

  Will Bezos attend Trump's tech summit on Wednesday? by Kara Swisher at Recode. "...Amazon CEO and founder Jeff Bezos was invited, said sources, and he is likely to attend." Read more   Nearly $50,000 in layaway paid off at a Pennsylvania Wal-Mart by Krystina Gustafson at CNBC. "This is the third consecutive year Santa B has paid off the accounts in a Pennsylvania store, a Wal-Mart spokeswoman told CNBC. Though the retailer does not know the identity of the donor, the checks are always signed by a man, she said." Read more   Venezuela orders stores to get into [...]

  Fmr. Walmart US CEO Bill Simon Betting on Trump to Cure ‘Ailing’ Economy by Julia Limitone at Fox Business. "Four percent GDP growth … will cure a lot of what ails this country,” he said, adding that Trump’s promise to revive the U.S. manufacturing industry and create jobs is “really exciting.” Video / Read more   Home Depot co-founder Arthur Blank says ex-CEO Nardelli had ‘huge negative effect’ on company by Phil W. Hudson at Atlanta Business Chronicle. "Without being personal about it, let’s just say [Nardelli’s] management style had a huge negative effect on the company: on the [...]

  Costco Q1 Comp Sales +1.0% "Net income for the quarter was $545 million, or $1.24 per diluted share, compared to $480 million, or $1.09 per diluted share, last year." Press release   ...Costco says it’s working to sharpen online shopping capabilities by Janet I. Tu at Seattle Times. "Galanti acknowledged that the company had probably been “a little stubborn along the way” and that “there are some things we perhaps should have done earlier.” But Costco is making improvements to its online shopping experience, including making search easier, improving the return process, bettering members’ ability to track their orders, [...]

  Pinterest Snags Former Walmart Head of Marketing by George Slefo at Ad Age. "Pinterest has tapped Brian Monahan as its new head of vertical strategy, the company said Wednesday. Mr. Monahan previously was head of marketing at Walmart and recently left to focus on his company, NewCo." Read more   American Apparel warns 3,500 Southern California workers of possible layoffs by Shan Li at LA Times. "It's a big number,” said Craig Johnson, president of consumer research firm Customer Growth Partners. “There are not a ton of U.S. large-scale apparel manufacturers left.” Read more   Prime Air pilots to [...]

  Judge blocks data breach suit against The Home Depot by Mike Kanell at AJC. "U.S. District Chief Judge Thomas Thrash, sitting in Atlanta, said company’s top management, as well as its board of directors did try to address the weaknesses in its online and data security, “even if the steps they took in hindsight proved to be inadequate,” the Daily Report said." Read more   FORTUNE FEATURES COSTCO - The Magic in the Warehouse by Neal Gabler."You would never guess by looking at it that the nondescript beige-and-red brick office complex in the bucolic Seattle suburb of Issaquah, at the [...]