Amazon may raise fee for Prime
January 31, 2014,
Seattle - Amazon.com may raise it fee for Prime customers to cover rising costs.
The world's largest online retailer missed earnings expectations for the recent holiday season and also cautioned about a potential operating loss this quarter, as result of shipping and rising fuel costs.
The company expects operating results for the quarter to be between a $200 million loss to a $200 million profit, compared with a $181 million profit in the year ago quarter.
Prime customers, who get two-day shipping as well as access to a host of digital products, may see their annual $79 fee rise from $20 to $40.
Atlanta - Newell Rubbermaid, maker of Rubbermaid storage bins, said it saw strong earnings per share results in the fourth quarter of 2013.
Michael Polk, president and ceo, said the company achieved "the best quarterly core sales growth rate in years." Topline growth was driven by innovation, new distribution, and increased advertising was fueled by overhead reductions, which drove EPS growth of more than nine percent to 47 cents, he said.
In 2013, the company transformed its company's structure from a holding company of nine individual global business units to an operating company with five business segments.
For the fourth quarter, sales were $1.49 billion, a 2.9% increase versus prior year results. Core sales, which exclude the impact of changes in foreign currency, grew 4.4%. Reported net income was $117.3 million, compared with $101.9 million in the prior year. Reported diluted earnings per share of 41 cents increased 17.1% versus the prior year's 35 cents per diluted share.