News

WTI expects that retail August 2013 will be the coolest in four years for the nation as a whole. Temperatures will trend cooler than last year in parts of the Northeast and in the western half of the nation, while temperatures will trend warmer in the Southeast and Ohio Valley. The Plains states and Rocky Mountains will see increased precipitation this year, while the Southwest and Southeast will trend drier than last year. August is expected to be another active month for tropical systems, especially during the latter part of the month.

NEW YORK — Nickelodeon has promoted Pamela Kaufman to the expanded role of CMO and president of the company’s consumer products. She will report to Cyma Zarghami, president of Nickelodeon Group.  

In her new role, Kaufman will oversee Nickelodeon's domestic consumer products business, encompassing merchandising and licensing for properties which include SpongeBob SquarePants, Teenage Mutant Ninja Turtles and Dora the Explorer.

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. 

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.

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.

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.

Loblaw Companies Limited — which recently announced its plans to <a href="http://Loblaw investments bolster its Q2 Loblaw Companies Limited, which announced its plans to acquire Shoppers Drug Mart for C$12.4 billion in cash and stock, reported higher earnings and revenue in the second quarter of fiscal 2013 as compared to the same period in fiscal 2012. Lolbaw’s net earnings for the quarter totaled USD $173.2 million, up 14% from $151.8 million. The retailer reported revenues of $7.31 billion, a 2% increase from $7.18 billion a year earlier. Same-store sales improved 1.1%.

Naperville, Ill. – OfficeMax Inc. is promoting Deb O’Connor, senior VP of finance and chief administrative officer, to interim CFO. She will replace Bruce Besanko, executive VP and CFO, who will leave the company to become the executive VP and CFO of Supervalu Inc. His last day at OfficeMax will be Aug. 6. A five-year veteran of OfficeMax, O'Connor previously served as senior VP and controller of the ServiceMaster Company.