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Office Depot reports Q1 loss
Boca Raton, Fla. -- Office products retailer Office Depot reported a worse-than-expected first quarter net loss of $17 million, compared with net earnings of $41 million a year earlier, hurt by lower sales and costs related to its pending merger with OfficeMax. The company also said it would hold a special meeting with investors to seek approval for the merger.
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Report: Mother’s Day spending to be nearly flat
Los Angeles -- Mother's Day spending will be nearly flat this year as more Americans return to work and have less spare time, according to a new report by market research firm IBISWorld.
The report forecast a 0.2% rise in purchases on Mother's Day gifts this year over last year, for a total of $17.1 billion.