- Online ad spending in the US grew by 34 percent in 2006 compared with 2005, according to a new study. More marketers are wooing customers on the internet because more users are switching to broadband connections and are online longer. The internet makes up only about five percent of total ad spending - an indication that there is still ample room for growth.
- Retailers had a disappointing February as shoppers passed on light spring apparel due to unseasonably chilly weather. Wal-Mart Stores Inc., Gap Inc., and Abercrombie & Fitch Co. are some of the retailers that fared the worse. But high-end stores like Nordstrom Inc. performed well, underscoring that wealthy shoppers don't buy on need.
- The federal government sued Walgreen Co. yesterday, alleging racial bias against thousands of black employees. The Equal Employment Opportunity Commission alleges in a class-action lawsuit that Walgreen assigned black employees to underperforming stores, which made them less likely to be promoted. Agency officials say this is the biggest discrimination case they have brought in recent years.
- Officials from the Tribune Co. said today they don't have any plans to sell any more of its newspapers. (It sold two of its newspapers to the Gannett Co. earlier this week.) Tribune Publishing President Scott Smith said their remaining papers, including the Los Angeles Times and the Chicago Tribune, "fit our strategic focus on larger publishing and interactive businesses." The company is still leaning toward a restructuring and possibly even a buyout from real estate billionaire Sam Zell.
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BNET Dispatch: March 8, 2007
March 8th, 2007 @ 11:57 am
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