Retail

CINCINNATI and MATTHEWS, N.C. — Kroger, already one of the world’s largest retailers, is about to get even larger. The company plans to purchase all outstanding shares of Harris Teeter Supermarkets for $49.38 per share in cash. 

The merger agreement not only allows Kroger to expand its brands portfolio but also allows it to expand its market with a complementary base of 212 stores, of which 147 have pharmacies, in Southeastern and mid-Atlantic markets and in Washington, D.C.

New York -- Saks Fifth Avenue Off 5th announced that it plans to open a new store in Atlanta, Georgia on July 18.

The 28,000-sq.-ft. store will be located in the Outlet Shoppes at Atlanta at Woodstock.

The store will be the third Saks Fifth Avenue Off 5th in metropolitan Atlanta, but will be the first store to be modeled after the company’s “luxury-in-a-loft” store design, which highlights the merchandise and facilitates easy shopping.

London -- Global online retail revenues will reach $4.3 trillion in 2025, accounting for nearly 20% of total retail, according to a new report from Frost & Sullivan. In leading markets such as the United States and the United Kingdom, nearly 25% of retail will be online, the study said.

Cincinnati -- The Kroger Co. has reached an agreement to purchase all outstanding shares of Harris Teeter Supermarkets for $49.38 per share in cash, or about $2.5 billion. Kroger will finance the transaction with debt and also assume about $100 million of debt from Harris Teeter.

Harris Teeter operates 212 stores in North Carolina, Virginia, South Carolina, Maryland, Tennessee, Delaware, Florida, Georgia and the District of Columbia primarily in the Carolinas. The company had revenues of approximately $4.5 billion for fiscal year 2012.

CITY OF COMMERCE, Calif. — Extreme value retailer 99 Cents Only Stores is getting ready to help one of its customers celebrate her 99th birthday as only it can. 

At 7 a.m. Friday, July 19, Mildred "Millie" Fox of Murrieta, Calif., is going to receive a 99-second shopping spree experience and free birthday cake at her local store. It will be 99 Cents Only Stores’ very first 99th birthday celebration.

Toronto -- A "Sears Hometown" store owner in Woodstock, Ontario (Canada), has launched a class action lawsuit on behalf of approximately 260 Sears Hometown dealers across Canada against Sears Canada and its American affiliate, Sears. Both are subsidiaries of Sears Holding Corp.

The lawsuit alleges that Sears lowered dealers' commissions, reduced advertising for local stores and bypassed the franchises by selling directly to customers who are located within their markets.

New York -- Australian swimwear brand Seafolly will open its first U.S. freestanding store in October, Women’s Wear Daily reported.

The company will open a 1,800-sq.-ft. location in Fashion Island mall, in Newport Beach, Calif. Seafolly has been selling its goods at select stores in the United States for about five years. It also does an exclusive line for Nordstrom, the report said.

BREA, Calif. — Health and natural products wholesale distributor Nature's Best has hired Amy Kirtland as the company’s VP of sales. Kirtland will be responsible for leading the company's sales team and executing the company's strategic growth plans.