Trading Partners

New York City -- The Jones Group has acquired Kurt Geiger, Europe's largest luxury shoe retailer from Graphite Capital, a leading United Kingdom mid-market private equity firm, for approximately $350 million in cash, inclusive of debt acquired.

The acquisition further extends Jones' reach into the designer footwear business through Kurt Geiger's portfolio of high-end brands and presence in leading department stores, such as Harrods and Selfridges.

Bentonville, Ark. -- A report Thursday by the Associated Press said that Wal-Mart Stores executives met Thursday to discuss the proposed Massmart acquisition, which is expected to close in June.

According to the report, as Wal-Mart expands its international business, the company wants to bring ideas it gains from the South African chain to other markets.

HOFFMAN ESTATES, Ill. — Sears Holdings announced that it has reached a license agreement with Dorcy International, which will allow Dorcy to sell DieHard-branded alkaline/rechargeable batteries and flashlights to retailers in the U.S., Puerto Rico and the Caribbean.

New York City -- South Carolina legislators gave final approval Wednesday to a deal bringing Amazon.com and its promise of 2,000 jobs to the state, the Associated Press reported.

The House voted 90-14 to approve a compromise brokered last week in the Senate, sending the measure to Gov. Nikki Haley's desk.

By George F. Brown Jr. and David G. Hartman

Enjoy the Pack

Leader footwear retailer Brown Shoes Company officially has a new president and CEO following its annual shareholders’ meeting. Diane Sullivan was named to both roles back in January, but the company implemented the change gradually as Sullivan assumed responsibilities from Ronald Fromm, who will continue to serve as chairman of the company best known for its Famous Footwear and Naturalizer store banner.

New York City -- Regulators in South African on Tuesday approved Wal-Mart's 17 billion rand (about $2.4 billion) bid to buy a controlling share of Massmart Holdings Ltd. The Competition Tribunal of South Africa approved the deal on the condition that no job cuts take place for two years. It also requires the merged entity to give employment preference to 503 Massmart employees who lost their jobs.

It may have taken longer than originally thought, but competition authorities in South Africa cleared the way for Walmart to move forward with its acquisition of Massmart, the company announced Tuesday.