Mergers & Acquisitions

Amazon.com and Walmart.com both sell products online, but that’s where the similarities end despite frequent efforts to compare the two.

Kroger trounced first quarter sales and profit forecasts, posting a 3.3% gain in identical store sales that drove a 92 cent a share profit.

Total sales increased 3.4% to $30 billion and the 3.3% gain in identical store sales was well ahead of analysts’ forecast of 2.8% growth. It was the company’s 38th consecutive quarter of positive identical store sales growth. Net income increased 9.6% to $481 million which translated to per share profit of 92 cents that was four cents better than the 88 cents analysts’ forecast.

With an ongoing investigation into alleged violations of the Foreign Corrupt Practices Act, the last thing Walmart would want to do is enter a market like Russia. Nevertheless, a Bloomberg report this week linked the company to a retailer few Americans have ever hear of.

Springfield, Ill. -- OfficeMax Inc. is asking the state of Illinois for tax breaks to keep the company's headquarters in-state after the office supply chain's merger with Office Depot Inc. is complete.

OfficeMax CEO Ravi Saligram and state Sen. Tom Cullerton made their pitch Tuesday during a hearing on the state's pension crisis. Cullerton is a Villa Park Democrat sponsoring legislation to provide incentives if the company keeps at least 2,000 full-time jobs at its headquarters and other non-retail locations.

NEW YORK — Leading U.S. toymaker Jakks Pacific has expanded its licensing agreement with Televisa, the largest media company in the Spanish-speaking world, and Univision Communications Inc., the leading media company serving Hispanic Americans, for the “El Chavo” brand. 

San Jose, Calif. -- A Wednesday report by Bloomberg said that Orchard Supply Hardware Stores Corp. has been given approval by the bankruptcy court to seek bids from liquidators to run going-out-of-business sales at eight underperforming stores and potentially another 22.

Camp Hill, Pa. — Rite Aid is offering to buy back $810 million worth of debt while increasing the amount of a new bond sale announced Tuesday, the retail pharmacy chain said.

Rite Aid said it would buy back all of its $810 million worth of 9.5% senior notes due 2017. The company also said it would increase the $400 million offering of 6.75% senior notes due 2021 by another $410 million, for a total of $810 million, as part of a debt-refinancing plan.

Gerald Evans was named chief operating officer at HanesBrands after serving as co-COO since 2011.