AutoZone inks deal

as All-Star sponsor

AutoZone has agreed to a deal with the Memphis Redbirds that names the Memphis-based company as the title sponsor of the 2003 Triple-A All-Star Game at AutoZone Park, July 16.

The game, to be televised on ESPN2, is the fourth signature event the Redbirds have hosted at AutoZone Park since its opening in 2000, including exhibition games with the St. Louis Cardinals in 2000 and 2002 and the Centennial Game minor league baseball's 100th anniversary celebration in 2001.

WKNO broadcast

to examine Iraq issues

In light of current global tensions involving Iraq, the United States and its allies, and the United Nations, WKNO will broadcast a three-hour event dedicated to addressing issues surrounding the conflict at 7 p.m. Monday.

Regular programming will be preempted for a Frontline Special Report The Long Road to War. This two-hour program will be followed at 9 p.m. by a Now with Bill Moyers Special Edition.

Corporate spelling bee

to keep Belle buzzing

The 12th annual Corporate Spelling Bee convenes with dinner at 6 p.m. April 10 at the Coors Belle, 5151 E. Raines Road.

Each year, the Bee brings large and small Mid-South companies together to invest in the community by supporting literacy. More than $100,000 has been raised for the Memphis Literacy Council.

The entry fee is $750 per team. Teams consist of three members with one person designated as captain.

Tickets to attend the event are $15 each or $100 for a table for eight.

For information, contact Sara Voye at Memphis Literacy Council, 327-6000, Ext. 1007, or Mary Lou Brown at the Commercial Appeal, 529-2508.

Schering-Plough

faces SEC lawsuit

U.S. regulators are on the verge of taking legal action against Schering-Plough and its chief executive officer for allegedly violating financial disclosure rules intended to protect investors, sources close to the situation said Thursday.

The U.S. drugmaker said it received notice of the Securities and Exchange Commission's preliminary decision to file a civil lawsuit. In October, the SEC launched an investigation into a series of share price falls and meetings between investors and CEO Richard Jay Kogan, which were followed by a profit warning in late September. The investigation has looked into potential disclosure of material financial information by the group before they were made public.

Schering-Plough will have an opportunity to answer the claims before final action is taken.

Kirkland's sales,

earnings in the bag

Jackson, Tenn.-based Kirkland's Inc. reported financial results for the 13-week and 52-week periods ended Feb. 1.

Net sales for the year increased 11.2 percent to $341.5 million from $307.2 million in the prior year. Comparable store sales for fiscal 2002 increased 8.4 percent. Comparable store sales increased 13.3 percent for fiscal 2001.

Net sales for the fourth quarter increased 4 percent to $125.7 million from $120.8 million for the fourth quarter ended Feb. 2, 2002. Comparable store sales for the fourth quarter 2002 decreased 1 percent. Comparable store sales increased 13.9 percent for the fourth quarter 2001.

Net income for the fourth quarter increased to $13.9 million, or 71 cents per diluted share, from pro forma income of $13.8 million, or 71 cents per diluted share, for the prior-year period.