Department Store

New York — Nearly 70% (68%) of consumers plan to spend up to $500 this back-to-school shopping season compared with 63% in 2012 and 48% in 2011, according to a new spending forecast from e-commerce platform provider PriceGrabber.  Additionally, 17% of respondents plan to spend between $500 and $1,000, and 15% of shoppers said they have no back-to-school shopping budget this year. Conducted from June 17 to July 8, 2013, the survey includes responses from 2,191 U.S. online shopping consumers.

Grand Rapids, Mich. — Meijer has opened a 190,000-sq.-ft. supercenter at the Gateway Marketplace shopping center located in the Michigan State Fairgrounds.

The new supercenter includes a grocery and full-service pharmacy with a drive-through.

ABILENE, Kan. — Argonne Capital Group LLC, a private investment firm based in Atlanta, Ga., has entered into a definitive merger agreement with Alco Stores, which will allow Argonne to acquire all outstanding shares of the broad-line retailer’s common stock for $14 per share in cash. 

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%. 

Chesterfield, Mo. — Taubman Prestige Outlets Chesterfield, a new fashion outlet center opening on Aug. 2, has announced its lineup of stores, many new to the St. Louis market.

Store names include Polo ralph Laurent Factory Store, Restoration Hardware, Abercrombie & Fitch Outlet, Abercrombie kids, 2b bebe Outlet, Lucky Brand Outlet, Brooks Brothers Factory Store and many other well-known names.

LOS ANGELES — With the back-to-school season well underway, a new spending forecast from e-commerce platform provider PriceGrabber conflicts with other recent studies and highlights the danger of placing much credence in what shoppers say about their spending intentions.

New York -- Five individuals have been charged with running a sophisticated, worldwide hacking organization that the U.S. Department of Justice called the largest hacking and data breach scheme ever prosecuted in the United States. The victims in the scheme included such retailers as J.C. Penney, 7-Eleven Inc., Carrefour and Hannaford Brothers Co.