Mergers & Acquisitions

Whole Foods Market has acquired leases from Safeway for seven locations formerly operated as Dominick's stores. Terms of the agreement were not disclosed.

Dallas - Corner Bakery Cafe has awarded its first multi-unit development agreement of 2014, and plans to open nine new restaurants in the Central Valley area of California with new franchise partner C&L Cafe, LLC. The group of veteran restaurant operators plans to open its first cafes in 2014 and the remaining sites over the next five years.

Hong Kong – Global luxury retailer Michael Kors increased net income during the third quarter of fiscal 2014 77% to $229.6 million from $130 million in the third quarter of fiscal 2013. Retail net sales grew 51.3% to $503.4 million, driven by a 27.8% increase in same-store sales and 98 net new store openings since the end of the third quarter of fiscal 2013.

Hoffman Estates, Ill. -- Sears Holdings announced that Norman Miller will join the company as senior VP and president, Automotive. Miller, who most recently served as president and COO of Dollar Financial Corp., will be responsible for the oversight and leadership of the company's automotive business, including Sears Auto Centers.

The Wet Seal board member Mindy C. Meads has resigned her spot to focus on her new role as CEO of Calypso St. Barth.

“Mindy has been a valued member of the board of directors and we wish her well in her future endeavors with Calypso St. Barth. Mindy’s leadership as chair of the Nominating and Corporate Governance Committee and her general contributions to the board were a value to the company and its shareholders,” said Lynda Davey, non-executive chairperson.

Facebook just reported record levels of user engagement along with fourth quarter sales and profits that blew away forecasts, but a new study offers a more measured view of the social media network’s longer term prospects.

The director of the USC Annenberg Center for the Digital Future Jeffrey Coles and the research firm Bovitz conducted a survey last fall in which one third of respondents said they will be using Facebook less in five years.

Milwaukee – Roundy’s, Inc. will be offering 2,948,113 shares of its common stock, and certain selling stockholders will be offering 5,896,226 shares of the company’s common stock. The underwriters will be granted a 30-day option to purchase up to an additional 1,326,650 shares of common stock from the selling stockholders, all at the offering price less the underwriting discount.

Mumbai – The Indian state of Rajasthan has reportedly prohibited direct foreign investment in supermarkets located there. According to Reuters, individual Indian states are allowed to decide whether or not they want to accept direct foreign investment in local supermarkets, and so far fewer than half of India’s 28 states have done so.