News

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. 

By Jake Weatherly, [email protected]

BOCA RATON, Fla. — Vitacost.com, a leading online retailer of health and wellness products, has appointed Chris Cavalline to the newly created position of CMO. 

Cavalline is a 25-year retail industry veteran, and was most recently SVP of merchandising and e-commerce at Kohl's Department Stores. Previously, Cavalline held senior leadership positions at Macy's, Inc. and May department stores. He earned a B.S. in physics and civil engineering from Washington and Lee University.

Tractor Supply solidified its positioned as the nation’s leading operator of farm and ranch stores during the second quarter with the opening of 26 stores and a better than expected 7.2% same store sales increase which prompted an increase in full year guidance.

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.

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. 

NEW YORK — Colgate-Palmolive saw a boost in second-quarter net sales as its global market share in toothpaste and manual toothbrushes hit record highs year-to-date.

Net sales for the quarter totaled $4.35 billion, up 2% compared with the year-ago period. 

Net income, which included charges related to its restructuring program, totaled $561 million, or 60 cents per diluted share, for the quarter. This compares with net income of $627 million, or 65 cents per diluted share, in the year-ago period.

Leading payments processor Vantiv cited strength in its e-commerce business as a key driver of a second quarter performance that saw revenues increase 11% to $519.4 million and profits on an adjusted basis increase 21.6% to $82.7 million, or 40 cents a share. Vantiv said its e-commerce business grew by 38% during the second quarter.