Strategy

Walmart and Procter & Gamble have signed on as primary sponsors for LPGA’s tour event in Northwest Arkansas for the next three years.

The event has been a phenomenal success for the region and grown in significance each year by attracting top LPGA talent. Next year, the tournament known officially as the Walmart Northwest Arkansas Championship presented by P&G will be held June 17-23 at the Pinnacle Country Club in Rogers.

Fort Worth, Texas -- Pier I said its total sales increased 10.9% to $425 for the third quarter, ended Nov.15, with comparable-store sales rising 7.9% from the year-ago period.

West Des Moines, Iowa -- C-store operator Kum & Go said Friday it has opened a new store in Gillette, Wyoming. The previous store was razed in July 2012 to make room for the all-new Kum & Go store design.

The nearly 5,000-sq.-ft. store introduces many new features both inside and outside the buildings. Inside, customers will find a larger product selection, a center checkout area with customer-focused staff, and an expanded Go Fresh Market.

The review of strategic alternatives remains ongoing at Supervalu despite reports about discussions breaking down with one prospective investor.

New York -- Amazon and Costco lead the pack lead the pack when it comes to the e-tailers that have most satisfied their customers, according to the "2012 Harris Poll Shopper Satisfaction Study of Online Retailers." The survey used a 100-point scale to measure customer satisfaction with the e-commerce sites of 14 big retailers. Amazon.com ranked first with a score of 82.

NEW BRUNSWICK, N.J. — Johnson & Johnson has elected Alex Gorsky as its new chairman, board of directors, effective December 28. Gorsky, who was appointed CEO in April of this year, replaces current chairman Bill Weldon, who was with the company for 41 years.

Nashville, Tenn. -- Genesco Inc. said Friday its third-quarter profit increased to $41 million, from $26.2 million in the year-ago period, better than Wall Street expected. The company also raised its fiscal 2013 outlook, even as it warned that November was off to a slow start.

New York -- Facebook has added a new service, called Gifts, which allows Facebook users in the United States to buy gifts for their friends on the social media platform. The new feature, rolled out just in time for the holiday shopping season, has the potential to give Facebook an ongoing supply of valuable personal information.