Arts and crafts retailer Michaels Stores has selected procurement firm LogicSource to manage the company's consolidated five-year, $250-million print-procurement budget. LogicSource will assist Michaels in identifying cost-savings and operation enhancements through 2015.
ZenithOptimedia softened its global and US ad spending predictions for this year in forecasts released July 13. The media services company predicted that US advertisers will increase spending 2.1% to $165 billion this year, down from its April forecasted growth of 2.5%. The firm also predicted global ad spending will grow 4.1% to $471 billion in 2011, down 1% from its April predictions.
US advertising spending will grow at a 4.2% compound annual growth rate (CAGR) through 2015 to $208 billion, according to a report released June 14 by PricewaterhouseCoopers (PWC). The advisory firm also reported that US ad spending increased by 5.4% in 2010, rebounding from a 14.4% drop the prior year.
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