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Stein Mart statements investigated

BY Dan Berthiaume

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.

On August 22, 2013 shares of Stein Mart fell 4.3% after the company reported in a regulatory filing that the SEC is conducting an investigation. The investigation is related to the company’s restatement of prior years’ financial statements and its change in its auditors.

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Dollar General beats estimates with record results

BY Dan Berthiaume

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.

Same-store sales increased 5.1%, compared to analyst predictions of 4.2%, with increases in both customer traffic and average transaction value. Consumables sales continued to increase at a higher rate than non-consumables in the 2013 quarter, with the most significant growth related to newly introduced tobacco products and strong sales of perishables and candy and snacks.

“We are very pleased with the increase in customer traffic in our stores,” said Rick Dreiling, Dollar General’s chairman and CEO. “We continue to grow our market share and believe that our second quarter results position us well to deliver our financial outlook for the year."

For the 2013 fiscal year, the company expects total sales to increase 10% to 11% and same-store sales to increase 4 to 5%.

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Eva Shockey teams up with Crosman to promote shooting sports

BY CSA STAFF

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.

“My dad always encouraged me to join him on his outdoor adventures,” said Shockey, “and his teachings are some of my most treasured memories. It’s that sense of sharing what I’ve learned that has me so excited about joining the Crosman family. I always knew that learning to shoot was fun, but now I understand that teaching folks how to shoot is just as rewarding. What better way to do that, than by teaming up with my friends at Crosman? Crosman and Benjamin airguns are the perfect way to introduce people to the sport of shooting.”

“Eva’s hard work, talent and unique point of view have fueled her rapid rise within the outdoor industry. But it’s her genuine enthusiasm for the outdoor lifestyle that makes her so approachable and inspires others to get out there themselves,” said Crosman’s VP of marketing, Jennifer Lambert. “We’re thrilled she’s joined the Crosman family, and we have a number of exciting initiatives planned.”

Eva Shockey spends more than 250 days a year traveling the world to hunt and co-host the "Jim Shockey’s Hunting Adventures" television show as well as representing the Outdoor Channel at various events across the United States and Canada.

“I credit my family for fostering my passion for conservation and love of adventure, and now that I’ve partnered with Crosman, I’m eager to encourage more people to get involved and enjoy the sport of shooting,” added Shockey. “It’s something you can share with the whole family.”

Rochester, N.Y.-based Crosman Corporation designs and manufactures Crosman and Benjamin airguns, CenterPoint optics, and Crosman, Game Face, and Undead Apocalypse airsoft products. Crosman is a licensee of U.S. Marine Corps airsoft, U.S. Army airsoft, and the exclusive worldwide licensee of Marlin airguns.

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