Finance & Capital Management

The state of gender equality among senior executive and in boardrooms is abysmal and “leaning in” isn’t enough to fix it, HSN CEO Mindy Grossman told a group of 300 retail and CPG executives recently.

Grossman was a featured speaker at the annual Network of Executive Women (NEW) Executive Leaders Forum in Rancho Palos Verdes, Calif., last week. According to Grossman, woman “can lean in for the next 30 years and it will not be enough unless we hold boards and CEOs accountable."

Pittsburgh -- GNC Holdings Inc.'s second-quarter net income rose nearly 8% amid strong sales. 

During the three months that ended June 30, GNC's income rose to $71.7 million, from $66.7 in the year-ago period. Its results beat expectations. 

Revenue increased 9.2% to $676.3 million from $619.1 million a year ago. Same-store sales rose 6.8% at company-owned stores and 5.2% at franchise locations.

Canton, Mass. -- Dunkin’ Donuts announced  that it has signed its first Southern California multi-unit store development agreements,  with four franchise groups for a total commitment of 45 locations. 

The first restaurants are expected to open in 2015 in Orange and Los Angeles counties. Some non-traditional Dunkin' Donuts locations may open over the next several months. 

Abilene, Kan. -- Alco Stores Inc. has entered into an agreement to be acquired by private investment firm Argonne Capital Group LLC.

The Atlanta-based Argonne will acquire all the outstanding share of Alco's common stock for $14 per share in cash. The proposed transaction, expected to close later year, would total about $47 million.

Alco's board of directors has unanimously approved the merger agreement and is recommending that shareholders approve it.

Philadelphia -- Destination Maternity Corp. announced that its net income for the third quarter of fiscal 2013 was $8.6 million, an increase of 24% compared to net income of $6.9 million for the third quarter of fiscal 2012.

Net sales for the third quarter of fiscal 2013 increased 2.2% to $141.9 million from $138.8 million a year ago. Same-store increased 4.9%. 

Sidney, Neb. -- Cabela’s Inc. on Thursday announced it will open four new markets in 2014:  Acworth, Ga., Augusta, Ga.; Missoula, Mont.; and Barrie, Ontario (Canada).  The outdoor goods retailer also reported that its second-quarter net income surged 31% on a 10.5% rise in same-store sales. 

Woodland Hills, Calif. — GrowLife has announced that it will roll out 12 stores by the end of 2014.

The indoor growing-technology retailer aims eventually to grow to 30 stores.

New York — As part of a continuing effort to expand its retail platform, Jones Lang LaSalle has acquired Surge Retail International, a New York/Boston-based specialty retail tenant brokerage.

The price was undisclosed.

By Jake Weatherly, [email protected]

SIDNEY, Neb. — Continued strength of firearm sales helped propel second-quarter results at Cabela’s, which reported net income $44.6 million for the three-month period ended June 29, just beating Wall Street's prediction, compared to $33.9 million in the year-ago period. 

The outdoor goods retailer also reported that its second-quarter net income surged 31% on a 10.5% rise in same-store sales. Revenue rose 21% to $756.8 million from $627.3 million. Direct revenue increased 13.7% to $180.1 million.