Corporate Governance

It’s common to see BMWs, Mercedes and other luxury makes in Walmart parking lots, but a new study reported on by Ad Age reveals wealthier shoppers prefer Amazon.com

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.

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.

It’s been awhile since Sears and the phrase "same store sales increase" were used in the same sentence, but that changed Thursday morning when the recently spun off hometown and outlet division product a 3.1% third quarter increase.

Sears Hometown and Outlet Stores said sales for its third quarter ended October 27, increased 3.3% to $557 million, driven almost entirely by the 3.1% comp increase and to a lesser extent by a net increase of nine stores that grew the total store count to 1,111 units. Profits increased 29% $8.8 million or 29 cents a share.

Atlanta, Ga. — Fashion basics brand Alternative Apparel appointed Erik Joule as its president and CMO, effective January 7, 2013.

Joule will be based out of the company’s design office in Los Angeles, where he will report directly to CEO Evan Toporek and work closely with founder and CCO Greg Alterman.
 

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

BOWLING GREEN, Ky. — Fruit of the Loom has chosen Crispin Porter + Bogusky to oversee and manage advertising for the Fruit of the Loom, Vanity Fair and Russell Athletic brands.

The leading international, vertically integrated basic apparel and athletic goods company’s brands include Fruit of the Loom, Vanity Fair, Russell Athletic and Spalding. It is an independent wholly owned subsidiary of Berkshire Hathaway, which is chaired by Warren Buffett.

The iconic Los Angeles intersection of Sunset and Vine is the location of a new flagship store Walgreens has designated as its 8,000th unit.

NEW YORK — The Toy Fair has added a new feature to its 110th annual trade show called, “Content Connection.” The new addition to the show is designed to serve the needs of growing number of licensors, brand owners and entertainment executives that annually flock to the largest toy trade show in the Western Hemisphere.

The modest sales decline Party City reported for the five week period ended November wasn’t all that bad considering the unfavorable circumstances the company faced.

Sales declined 1.4% to $358 million and same store sale declined 0.6% at permanent stores and 11.9% at temporary locations, the company said.