Finance & Capital Management

New York -- A bid to raise the federal minimum wage was rejected by Republicans in the Senate, who blocked legislation Wednesday to boost the rate to $10.10 an hour. Senators predominantly voted across party lines, which places Democratic senators in favor and Republican senators opposed.

The defeat was expected, and it is expected to serve as a rallying cry for Democrats preparing their next campaign.

St. Petersburg, Fla. - Net income declined at HSN Inc. during the first quarter of fiscal 2014 even as sales slightly improved compared to the same period a year earlier. Net income dropped 23% to $24.18 million from $31.54 million.

Net sales climbed 1% to $772.42 million from $772.65 million. A slight decline in average price point, as well as a higher tax rate and increased cost of sales, helped push HSN’s net income down. Mindy Grossman, CEO of HSN, also cited severe weather as a negative financial factor in the quarter.

Denton, Texas – Sally Beauty Holdings reported declining net earnings in the second quarter of fiscal 2014 compared to the second quarter of the previous fiscal year. Net income fell 9.9% to $58.9 million, from $64.89 million.

Net sales fared better, rising 2.4% to $919.47 million from $898.24 million. Same-store sales grew 1%. Higher selling, general and administrative expenses, as well as charges related to a previously disclosed data security breach, impacted net earnings. Sally Beauty also cited weather as negatively impacting sales.

St. Louis - Build-A-Bear Workshop has reached an agreement with Horizon Toy Company of Turkey as a new international franchisee. The first Build-A-Bear Workshop store in Turkey is expected to open in Mall of Istanbul in June 2014.

With the store opening in Turkey, Build-A-Bear Workshop will now operate in 15 countries through franchisees. Those countries include Australia, Bahrain, Denmark, Germany, Japan, Kuwait, Mexico, Norway, Oman, Singapore, South Africa, Sweden, Thailand and United Arab Emirates.

Camp Hill, Pa. – Total drugstore sales at Rite Aid grew 4.9% to $1.99 billion in April 2014 from $1.9 billion the same month in the previous year. Same-stores sales for the month increased 5%.

Rite Aid cited the shift in Easter from March in 2013 to April in 2014 as helping to boost same-store front-end sales.

Seattle – Blue Nile Inc. reported increases in net income and sales during the first quarter of 2014, compared to the same period in the prior year. Net income rose 30% to $1.07 billion, from $832 million.

Net sales increased 6.8% to $103.7 million, compared to $97.1 million. Looking ahead, Blue Nile expects net sales between $108 and $113 million during the second quarter of fiscal 2014 and net sales between $485 and $510 million for fiscal 2014.

Fort Worth, Texas – Pier 1 Imports (U.S.) Inc., a subsidiary of Pier 1 Imports Inc., has completed the amendment of its $350 million senior secured revolving credit facility and syndicated and closed a previously announced $200 million seven-year senior secured term loan B.

Proceeds from the $200 million term loan are intended to be used for general corporate purposes, including, among other things, working capital needs, capital expenditures, cash dividends and repurchases of the company’s common stock.

New Albany, Ohio -- Abercrombie & Fitch Co. will nominate for election to its board of directors four new independent director candidates: Bonnie R. Brooks, Sarah M. Gallagher, Diane L. Neal and Stephanie M. Shern. The board retained a third-party search firm to assist in the search process for new independent directors with relevant experience.

New York -- Aeropostale Inc. will close approximately 125 of its mall-based P.S. from Aeropostale kids’ stores by the end of its fiscal year and cut about 100 corporate jobs as part of a larger turnaround effort.

Phoenix — Vestar has appointed Clint Marchuk VP of acquisitions. His responsibilities include identifying, evaluating and carrying out shopping center acquisitions in Arizona, Utah, Colorado, New Mexico and Texas.