Announcements from the donald trump transition today. First of all, Jeff Sessions as the choice for attorney general. The alabama senator is someone whos been a sharp critic of immigration both legal and illegal, someone who was rejected by the senate for a federal judgeship during the Reagan Administration because of his racial views. Then for National Security adviser, Lieutenant General Michael Flynn, a fiery critic of what he calls radical islamic terrorists, and he is very forward leaning in using that term. And finally, congressman mike pompeo from kansas, who is a tea party member, also somebody whos been very confrontational in terms of going after islam and calling it in terms that the Obama Administration has said were counterproductive to the fight. Now, mike pence, the Vice President elect, who is now leading the transition, expressed satisfaction today that everything is moving on track. Making great progress. Great working with the president elect. He is a man of action.
Staples and childrens place, well break them all down for you. Paypal cofounder reed hoffman fires back at carl icahn and ahead of tomorrows big jobs number weekly jobless claims did decline slightly as we said. Well start with retail. As we mentioned three big misses, costco biggerthanexpected fall in profit as deep discounting during the Holiday Season hurt margins. Childrens place announcing an 18 drop in Fourth Quarter earnings. Highly promotional market in Severe Weather and then staples missed on revenues said its going to close more than 200 stores by the end of the year now that nearly half of its sales are generated online. People are calling it a triple whammy in retail and obviously tough news for obvious reasons. Disconcerting mostly by costco because costco when i saw the number, hey, thats not so good but when i read the release they were telling you they were unhappy with their performance. Its the new pattern where someone says, look, its not just the weather, we didnt
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