Finance & Capital Management

Lynnwood, Wash. -- Action sports retailer Zumiez reported net income of $4.7 million for the quarter ended Aug. 3, compared with $2.1 million a year earlier. Sales surged 16.9% to $157.9 million, and same-store sales edged up 0.9%.

San Jose, Calif. -- Togo's Eateries announced the signing of two multi-unit franchise agreements with an existing franchise group to develop 20 new restaurants in Oregon and California over the next several years.

Togo's franchisee Mark Fischer will open 10 restaurants in Portland, Ore., and 10 additional locations in Los Angeles County, with the first location scheduled to open in Portland, Ore. in first quarter 2014.

This new development is part of the chain’s plan to grow the brand to 400 restaurants along the West Coast.

Memphis -- Perkins Restaurant & Bakery announced a six-unit franchise development agreement in Iowa and Nebraska over the next six years.  

The expanded development of the Iowa/Nebraska area was signed with Perkins franchisee CyHawk Hospitality Inc., which operates six Perkins Restaurants and Bakeries — five in Iowa and another in Independence, Mo.  
 
The first of the six additional units opened in July in Ankeny, Iowa, to be followed by a location in Norfolk, Neb., slated to open in September.

Small businesses have long been a core customer group at Sam’s Club, so much so that at one point the retailer’s tag line was, “in business for small business.” It makes sense then that Sam’s would invest in a program that promotes entrepreneurship and for that the nation should be thankful.

Nordstrom never rushes things. It moves forward slowly, thoughtfully and creatively. And when the company makes a decision, observers tend to nod their heads and say: “Hey, that’s a good idea.”

A week ago, in a news conference announcing the acquisition of a West Side Manhattan Nordstrom store site for $102.5 million, Peter Nordstrom said: “We’ve had the intention and the drive, gosh, probably for the last 25 years to try to be here. We fully expect this to be our most successful store.”

New York -- J.C. Penney Co. plans to end its association with the Martha Stewart brand after disappointing sales, according to the New York Post. The report, which cited unidentified sources, said the decision was made by Penney CEO Myron Ullman, who returned to the chain in April following the ouster of Ron Johnson.

Hampstead, Md. -- JoS. A. Bank Clothiers reported that net income for the second quarter dropped 38% to $14.2 million, compared with $23.2 million in the same period last year, amid weaker sales.

Total sales fell 10.7% to $232.5 million. Same-store sales plummeted 15.9%; direct marketing sales decreased 1.9%.

The Woodlands, Texas - Conn’s, Inc. reported net income of $19.2 million, up $7.6 million, or 65.1%, from the prior-year period during the second quarter of fiscal 2013.

Consolidated revenues totaled $270.7 million, an increase of 30.5% from last year.

Same-store sales grew 18.4%. Sales increased significantly in product categories including home appliance, laundry, refrigeration, cooking, furniture, mattresses, TVs, tablets and computers.

New York -- Fashion designer Robert Graham will open his first New York City branded retail store at 380 Bleecker Street in SoHo, joining high-end neighbors such as Burberry, Brunello Cucinelli, Marc Jacobs, rag & bone, and Ralph Lauren. The Robert Graham store is slated to open this fall.

Houston -- Saks Inc. will open a new flagship store immediately adjacent to its existing location in the Houston Galleria, featuring 198,000 sq. ft. over two levels and a state-of-the-art store design. The current store will remain open until the new store opens in fall 2015. Once the old store closes, it will be converted to a two-level mall wing connecting the new Saks to Neiman Marcus and adding 35 retailers and restaurants.