Hyundai Motor Corp. (HYMLF.PK) and Kia Motors Corp. (KIMTF.PK) have told the United States Senate Commerce Chairman Jay Rockefeller (D-WV) that they will compensate dealers for taking part in a program which allows owners of vehicles with overstated gas mileage ratings until at least the end of next year to register for compensation, and they won’t make owners waive their legal rights to participate. In November, the companies promised to reimburse owners of almost 1.1 million vehicles in North America, including 900,000 vehicles in the United States, after conceding that they exaggerated gas mileage claims on vehicle window stickers.
Zale Corporation (NYSE:ZLC) will now have to defend in court its advertising campaign which says that its Celebration Fire stones are the “most brilliant diamonds in the world.” Next Monday, an Ohio federal judge will become involved in the lawsuit brought by Sterling Jewelers, a division of Signet Jewelers, which also owns the Kay Jewelers and Jared the Galleria of Jewelry chains, accusing Zale of false advertising.
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On Tuesday, The Gap (NYSE:GPS) said that it is planning the first stand-alone Gap stores in Brazil as a part of its ongoing world expansion strategy, having reached an agreement with Tudo Bom Comércio Ltda. for the launch of the first stores next fall.
Shares of Chipotle Mexican Grill (NYSE:CMG) have moved up Tuesday on positive comments from JPMorgan on sales and growth. The company’s Co-Chief Executive Monty Moran met with the analysts at an investor event at which he exhibited an encouraging prospective, but cautioned against a first-quarter 2013 lap.
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