The Wall Street Journal-20080131-In Brief

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In Brief

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China's Ad Market

Posts 15% Growth

Spending on advertising in China, the world's third-biggest ad market after the U.S. and Japan, continued to grow last year, as marketers poured money into campaigns targeting the Beijing Summer Olympics. According to Nielsen Co., the total -- including spending on newspapers, magazines and television -- reached 441.5 billion yuan ($61.36 billion) in 2007, a 15% increase from the year earlier.

AnnTaylor Stores

Plans to Downsize

AnnTaylor Stores Corp. said it will close 117 struggling stores in the next three years and cut staff at its headquarters in a restructuring that aims to boost profitability. The New York-based retailer will also reduce its headquarters work force by about 13% and postpone until 2009 the debut of its new concept store, aimed at baby boomers. The company operates 921 stores in 46 states.

Vivendi's Revenue

Increases by 8.5%

Vivendi SA said fourth-quarter revenue rose 8.5%, driven by growth in the company's pay-television and Moroccan telecommunications divisions. Revenue increased to 6.01 billion euros ($8.88 billion) from 5.55 billion euros a year earlier. The French entertainment and telecom company said adjusted net profit for 2007 would be about 2.8 billion euros. Vivendi owns majority stakes in SFR and Maroc Telecom and broadcaster Canal Plus.