Also

* Luxury retailer Neiman Marcus Group Inc. said fiscal third-quarter profit rose 16%, helped by higher sales of apparel and accessories. Net income increased to $79.8 million, or $1.61 a share, from $68.8 million, or $1.40, a year earlier, Dallas-based Neiman Marcus said. Sales rose 6.9% to $933 million.

* Aliso Viejo-based commercial real estate developer Parker Properties named Kevin R. McKenzie president. He is a former senior vice president at investment bank Buchanan Street Partners. Former President Lee Redmond will continue to serve as chief executive.

* U.S. advertising spending rose 4.4% to $33.5 billion in the first quarter, the smallest gain since the fourth quarter of 2003, according to market researcher TNS Media Intelligence. Advertising on cable TV increased 18.2% to $3.51 billion.

* Los Angeles-based Reliance Steel & Aluminum Co. agreed to buy closely held Chapel Steel Corp., which processes and distributes carbon and alloy steel-plate products, for an undisclosed price.