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Crown Crafts acquires Bibsters product from P&G

BY Allison Cerra

GONZALES, La. Crown Crafts has acquired a disposable bib product from Procter & Gamble, the company announced last week.

Crown Crafts said its subsidiary Hamco now will manufacture and distribute Bibsters products, a disposable bib that provides coverage for infants and toddlers while feeding, which was introduced by P&G in 2003. Hamco also acquired the inventory associated with the Bibsters product line and plans to integrate the distribution of the Bibsters product line into the Company’s facilities in Compton, Calif.

“We are thrilled to find an opportunity that will complement last year’s acquisition of Neat Solutions by expanding our business in the disposable products category,” said E. Randall Chestnut, chairman, president and CEO.  “Hamco already has the overwhelming market share in reusable bibs, and we are confident that the Bibsters line of disposable bibs will solidify Hamco’s position as the overall leader in infant and toddler bibs.”

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BioScrip to present at two upcoming conferences

BY Alaric DeArment

ELMSFORD, N.Y. Specialty pharmacy company BioScrip will present at two conferences next month, BioScrip said Wednesday.

On June 7, chairman and CEO Richard Friedman and CFO and EVP Stanley Rosenbaum will present at the Noble Financial Sixth Annual Equity Conference at the Hard Rock Hotel in Hollywood, Fla. The next day, Friedman, Rosenbaum and president and COO Richard Smith will present at the Jefferies 2010 Global Life Sciences Conference at the Grand Hyatt in New York.

A live audio Webcast of the Florida event will be available at www.ontrack10.com and www.nobleresearch.com, while one of the New York event will be at www.wsw.com/webcast/jeff46/bios. Replays of the presentations will be available through BioScrip’s Web site, at www.bioscrip.com.

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Costco’s profit soars in Q3

BY Allison Cerra

Wholesaler Costco saw a surge in its third-quarter profit, the retailer reported Thursday.

Net income in the quarter ended May 9 rose to $306 million, up nearly 46% from $210 million in the year-earlier third quarter. Sales rose 12% to $17.39 billion. Same-store sales rose 4%.

Costco said its dramatic profit increase was attributed to continued overseas demand from Canada to Taiwan and by better sales of nonessential products such as apparel and home furnishings.

At the end of the quarter, Costco ran 568 warehouse clubs, with locations in the United States; Canada; Mexico; the United Kingdom; Korea; Taiwan; Japan and Australia. The company said it plans to open five more locations by Aug. 29, the end of its fiscal year.

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