News

SALT LAKE CITY — Online discount retailer Overstock.com reported a 19% increase in total net revenue for the first quarter, thanks to a 21% increase in average order size.  

Overstock.com’s total net revenue for the quarter was $312 million, up from $262 million for the first quarter of last year, even though the company reported a small decrease in the number of customer orders. Its net income for the quarter surged to $8 million, up from $2.7 million for the same period last year. 

SAN JOSE, Calif. — Global commerce platform and payments leader eBay reported double digit growth in revenue and net income for the first quarter ended March 31.

eBay reported a revenue increase of 14% to $3.7 billion, and its net income, adjusted to exclude non-recurring expenses, increased 14% to $829 million, compared to the same period in 2012.

Irvine, Calif. -- Mimi's Cafe said Thursday that Scott Miller has been named VP finance, effective immediately.

Miller most recently was the CFO at El Gallo Giro, a multi-unit taqueria. He also spent 10 years in various financial leadership roles at Carlson Restaurant Inc., with the T.G.I. Friday's and Pick Up Stix brands.

Mimi's Cafe was recently acquired by Le Duff America , parent to the Bruegger’s Bagels and la Madeleine banners, and has 145 locations in 24 states.

J.C. Penney late Thursday announced that chief operating officer Michael W. Kramer had left the company.

His departure was disclosed in an 8-K filing with the Securities and Exchange Commission. In connection with Kramer’s departure, he received a lump sum cash payment of $2,143,414. In addition, the company also disclosed that Daniel Walker had resigned as the company’s chief talent officer.

ATLANTA — Supply chain solutions company Predictix has appointed Ronald P. Menich, Ph.D., as its new EVP and chief scientist. 

Predictix provides retailers and brands with platforms and tools that enable them to drive competitive advantage and market differentiation. 

A Web site affiliated with noted television investment pundit Jim Cramer has reiterated its buy recommendation on shares of Walmart.

TheStreet.com rated Walmart A+ and said the company’s strengths can be seen in areas such as revenue growth, notable return on equity, solid stock price performance, growth in earnings per share and net income.

"We feel these strengths outweigh the fact that the company shows weak operating cash flow," according to the TheStreet.

WOONSOCKET, R.I. — CVS Caremark will join the Boston business community to support The One Fund Boston, established by Massachusetts Gov. Deval Patrick and Boston Mayor Thomas Menino to raise money for victims and families who have been affected by the Boston Marathon tragedy.

The CVS Caremark Charitable Trust, the private foundation of CVS Caremark, will donate $100,000 to The One Fund Boston, which is also accepting online donations from the public at Onefundboston.org.

EL SEGUNDO, Calif. — Key Mattel brands drove Mattel sales for the first quarter of 2013. 

Mattel's net sales for the quarter were $996 million, up 7% compared to $928 million last year, and net income increased dramatically to $38.5 million, or $0.11 per share, compared to last year's first quarter net income of $7.8 million, or $0.02 per share.