Finance & Capital Management

Seattle – The price of subscribing the Amazon Prime preferred shipping program will reportedly increase. According to the Huffington Post, Tom Szkutak, CFO of Amazon, said on a Jan. 30 investors call that the company is considering raising the current $79 yearly fee for Amazon Prime, which includes free two-day shipping, by $20 to $40 in the U.S.

New York – Saks Fifth Avenue is reportedly planning to both increase the amount of high-end luxury goods it sells and also increase the number of Saks Off 5th outlet stores it operates. According to the Wall Street Journal, Richard Baker, CEO of Canadian department store chain (and new Saks owner) Hudson’s Bay Company wants to overhaul Saks stores by selling more items such as $48,000 Louis Vuitton crocodile handbags.

Lakewood, Colo. -- Natural Grocers by Vitamin Cottage, Inc. had a strong first quarter of fiscal 2014, reporting increases in both net income and net sales. Net income rose 31.6% to $2.9 million from about $2.2 million and net sales grew 25.8% to $120.6 million from $95.8 million.

A $14.6 million increase in sales from new stores and a 10.6%, increase in same-store sales drove Natural Grocers’ net sales growth. Looking ahead, the company plans to open a total 15 stores in fiscal year 2014 and expects to remodel two existing stores.

Washington, D.C. - As a result of softer same-store sales and customer traffic levels, the National Restaurant Association's Restaurant Performance Index (RPI) registered a moderate decline in December 2013. The RPI, a monthly composite index that tracks the health of and outlook for the U.S. restaurant industry, stood at 100.5 in December, down 0.6% from November and the first decline in three months.  

Los Angeles — CIG Retail Properties has acquired the 170,739-sq.-ft. Garden Park Shopping Center in the Dallas, Texas, suburb of Lewisville, for an undisclosed amount. CBRE’s private capital group in Dallas negotiated the sale on behalf of the seller, a special servicer.

World Gym and Thrift City anchor the center. The tenant line-up includes Precision Sports Nutrition, Edward Jones, The UPS Store and Lewisville Soccer.

Northbrook, Ill. — Pine Tree Commercial Realty has acquired two shopping centers, one in Nevada and the other in Missouri. The developer has also broken ground on four properties, two in Illinois, one in Idaho, and one in California.

The activity brings Pine Tree’s current portfolio to 3.2 million sq. ft. in 24 properties.

Dallas – Tuesday Morning reported net income for the second quarter of fiscal 2014 of $17.7 million, compared to a net loss of $21.5 million in the same period last year. The company's net sales were $285.8 million, essentially flat with $285.3 million for the second quarter of fiscal 2013.

Boston – Wayfair reported $915 million in revenue to close the year 2013, with an annual revenue growth rate of 55% and order intake exceeding $1 billion. The company said its portfolio of home brands experienced steady growth throughout 2013 capped off by strong holiday sales in the fourth quarter.

New Albany, Ohio -- Abercrombie & Fitch Co. has promoted Jonathan E. Ramsden, currently the company's executive VP and CFO, to the position of COO, a new role at the company. Ramsden will continue to serve as CFO, in addition to his COO role, until a new CFO is appointed.

Canton, Mass. -- Dennis Hernreich, executive VP, COO and CFO of Destination XL Group Inc., has resigned to pursue new challenges and board member John E. Kyees has been named interim CFO. In addition, the company has elected Will Mesdag, 60, to its board of directors.

Kyees, who has served on the Destination XL board of directors since 2010, was CFO of Urban Outfitters from 2003 until his retirement in 2010, and has served as a senior financial executive at several other prominent retailers. The company is conducting a search for a permanent CFO.