Finance & Capital Management

New York – New York & Company grew its net income during the fourth quarter of fiscal 2013 11% to $6.9 million, from $6.2 million. Net sales fell 7% to $271 million from $291.8 million and same-store sales climbed 1.2%.

New York & Company attributed its improved net income to expense controls and increased merchandise margin. The company also cited the 53rd week in fiscal 2012 as affecting its negative net sales growth.

Bexley, Ohio — Stanbery Development has named Marc Hays as a partner. He will focus on finding locations for new developments and acquisitions as well as leasing.

Indianapolis -- Simon Property Group is launching a new business, Simon Venture Group, that will invest in retail innovation, focusing on technology opportunities that enhance the shopping experience.

"We believe we have only scratched the surface on applying technology to the retail environment in innovative, interesting ways," said Mikael Thygesen, chief marketing officer of Simon Property Group.

Tiffany & Co. reported a net loss of $104 million in the fourth quarter of fiscal 2013 thanks to a $473 million charge resulting from arbitration with The Swatch Group Dec. 2013.

The company reported net sales for the quarter of $1.3 billion, up 5% from $1.23 billion last year. Same-store sales for the quarter increased 6%.

Eva Mendes celebrated this week the launch of her spring collection for New York & Company's with two events in L.A. Mendes joined fashion editors and bloggers for a party at New York & Company's new Beverly Center popup location, and again at the retailer’s Los Cerritos Center location, in Cerritos, Calif.

Newport Beach, Calif. - Engaged Capital, an investment firm specializing in small and mid-cap North American equities and stockholder of Abercrombie & Fitch Co. has retained an independent global professional services firm to assist Engaged Capital in setting a new direction for Abercrombie. The firm has decades of experience in the retail and apparel sector, including the turnaround and restructuring of underperforming businesses.

Despite having comparable store sales decreases in the fourth quarter and fiscal year, Books-A-Million saw core book business improve, driven by what president and CEO Terrance G. Finley  called a strong lineup of new titles.

Revenues for the 13-week period ended Feb. 1 decreased 3.7% to $157.9 million, compared with revenues of $163.9 million in the 14-week year-earlier period. Comparable store sales for the quarter which include comparable 13-week periods this year and last year declined 1.8%, compared with the same period last year.

San Francisco – Private equity firm Golden Gate Capital Corp. disclosed in a regulatory filing that it has purchased a 9.5% ownership stake in Ann Inc., parent of Ann Taylor.  

In a letter to the Ann Inc. board of directors, Golden Gate said it looks forward to working collaboratively with Ann Inc. The company said that it did not plan to seek changes to the retailer’s board or executive team, or to push for a sale