News

NEW YORK — Tecate returns to the ring Saturday, December 8, to sponsor the fourth boxing showdown between Manny Pacquiao and Juan Manuel Marquez.

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.

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.
 

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.

Walmart moved its quarterly dividend payment up a few days so it would fall in 2012, but Costco took tax avoidance to a new level this week.

In anticipation that tax rates on dividends will rise next year as the federal government flounders for ways to raise revenue rather cut spending, a flurry of companies are paying one time dividends or adjusting payment dates. Walmart falls into the latter camp and said its 39.75 cent per share payment scheduled for January 2 would instead be paid on December 27.

Bolingbrook, Ill. — Ulta Beauty reported a double-digit gain in third-quarter sales and net income. The company said it is planning to open approximately 125 stores in 2013.

For the quarter ended Oct. 27, net income rose 42.5% to $38.2 million. Net sales rose 22.4% to $505.6 million, from $413.1 million in the year-ago period. Same-store sales were up 8.4%.

During the quarter, Ulta opened 49 stores, for a total of 537 stores.

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.