News

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.

COLUMBUS, Ohio — Big Lots has named David Campisi as its new CEO and president. Campisi succeeds Steve Fishman, who announced in December 2012 his intention to retire upon the appointment of his successor. 

Fishman will also step down from the board of directors immediately following the 2013 annual meeting of shareholders on May 30, at which time Campisi will be appointed as a director. The board also plans to elect a non-executive chairman of the board.

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. 

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.   

WOONSOCKET, R.I. — CVS Caremark announced that it was among several national companies represented at an event hosted on Tuesday by President Obama, VP Joe Biden, First Lady Michelle Obama and Dr. Jill Biden as part of the Joining Forces initiative.

During the event, the administration asked companies participating in the Joining Forces initiative to hire and train 435,000 veterans and military spouses over the next five years, after nearly tripling its original goal of hiring 100,000 veterans and military spouses by the end of 2013.

Los Angeles – Online fashion magazine Who What Wear is launching a new home décor e-commerce site, DomaineHome.com.

The site functions as an online magazine focused on home décor and decorating with shoppable content.

ENGLEWOOD, Colo. — Sports Authority has appointed Paul M. Okimoto as the company’s new CMO. 

In his new role, Okimoto will be responsible for leading the strategic development and oversight of the company’s overall marketing plans to drive traffic and sales at stores nationwide and through the e-commerce platform. He is a 20-year marketing and general management executive with demonstrated success in retail, high-technology, mobile telecommunications, advertising and the consumer packaged goods industries.

By Michael W. Maynard,