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Taylor, Mich.-based Masco Corp. reported first-quarter net sales of $1.88 billion, up 3.9% from the same quarter last year.

Net income for the giant manufacturer of home improvement and building products was $47 million, up from $33 million in the prior-year quarter. 

By Michael W. Maynard,

MINNEAPOLIS — Best Buy is leaving the European market. The company is selling its stake in a joint European venture with U.K.-based consumer electronics retailer Carphone Warehouse Group PLC for cash and stock worth about $775 million USD.

Best Buy Co. will also pay Carphone 29 million pounds (about $45 million) related to existing agreements that will be terminated when the deal closes. The U.S. retailer also said that it will incur an approximately $200 million asset impairment charge related to the stake sale.

Austin, Texas -- Survey results by coupon site RetailMeNot revealed Monday that the vast majority of consumers believe that saving money is important.

According to the Shoppers Trend Report, conducted by The Omnibus Co. for RetailMeNot, 93% of consumers say they believe that saving money in their everyday lives is important. The survey also found that 61% are saving about the same or more money per month than they were five years ago.

NEW BRUNSWICK, N.J. — Johnson & Johnson chairman and CEO Alex Gorsky told shareholders at the company's annual shareholder meeting that its consumer healthcare business would reclaim its prominence in the U.S. marketplace. But OTC growth will be greatest outside of the U.S.

Washington, D.C. -- A report released Monday by the Commerce Dept. said that March consumer spending in the U.S. advanced more than forecast – rising 0.2% after a 0.7% increase in February.

New York -- Multibillion dollar transactions drove U.S. retail and consumer deals during the first quarter of 2013, according to PwC US.

For the three month period ending March 31, 2013, there were a total of 27 deals in the retail and consumer sector with disclosed values greater than $50 million, accounting for $39.8 billion in deal value. Deal volume increased 59% from the 17 deals during the first quarter 2012, while deal value rose 590% from $5.8 billion in first quarter 2012.  

Electrolux reported net sales decreased 2% to $25.3 million compared with the same period last year. On an organic basis, adjusted for acquisitions, divestments and changes in exchange rates, sales increased 3.8% compared with the same period last year.