Corporate Governance

Houston – Francesca’s Holdings Corp. grew its net income and sales during the second quarter of this year compared to the second quarter of last year, despite a slight drop in same-store sales. Net income grew about 15%, from $12.7 million to $14.6 million, while net sales rose 17% to $89.6 million.

Camp Hill, Pa. – Rite Aid Corp. has promoted Tammy Royer, a long-time member of Rite Aid’s pharmacy division, to group VP of managed care. In her new role, Royer will oversee all aspects of managed care, including contracting, maintaining relationships with managed care organizations, pharmacy benefit managers and third-party payers and developing new strategic partnerships.

Nashville, Tenn. - Harwood Feffer LLP is investigating potential claims against the board of directors of Genesco Inc., concerning whether the board has breached its fiduciary duties to shareholders. On August 29, 2013, Genesco disclosed that it may be forced to restate certain financial statements due to potential violations of generally accepted accounting principles.

Jacksonville, Fla. - Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of Stein Mart Inc. The investigation focuses on whether Stein Mart and/or certain of its officers complied with the federal securities laws when making statements to investors.

Goodlettsville, Tenn. – Dollar General reported record net income and sales for the second quarter of this year. In addition, same-store sales growth beat analyst estimates by almost a full percentage point.

Net income increased by 15% to $245 million in the second quarter of fiscal 2013, compared to net income of $214 million in the second quarter of the prior fiscal year. Net sales increased 11.3% to $4.39 billion, compared to $3.95 billion in the second quarter of the previous year. Analysts had expected net sales of $4.36 billion.

GOODLETTSVILLE, Tenn. — Dollar General reported record sales, operating profit and net income for its second quarter ended Aug. 2, driven, in part, by the company’s newly introduced tobacco products and strong sales of perishables and candy and snacks.

The company’s net income increased 15% to $245 million in the quarter, from $214 million in the year-ago quarter, and earnings per diluted share of $0.75 in the quarter increased 17% over EPS of $0.64 in the year-ago quarter. 

Crosman Corporation — an international designer, manufacturer and marketer of shooting sports products — has entered into a long-term agreement with Eva Shockey, daughter and hunting partner of professional hunter, Jim Shockey, to promote the shooting sports.

BRUSSELS, Belgium — Belgian international food retailer Delhaize Group announced that Roland Smith, CEO of Delhaize America, and Pierre-Olivier Beckers, CEO of Delhaize Group, are leaving the company.

BOSTON — Shoebuy.com, a leading global online retailer of shoes and clothing, has expanded its marketing leadership team with the appointments of Heather Adams as SVP of marketing and Kavita Baball as SVP of customer experience and retention. 

The opening of 79 new stores drove overall second quarter sales growth at Francesca’s Holdings, but same store sales declined, profits were less than forecast and the company lowered its expectations for the full year.

Despite the slight decrease in same-store sales, the company grew its net income 15% to $14.6 million, from $12.7 million, while net sales rose 17% to $89.6 million.