News

Phoenix -- Private equity firm Apollo Management will acquire majority ownership in Phoenix-based Sprouts Farmers Market. Apollo plans to combine Sprouts operations with another of its holdings, Henry's Farmers Market, based in Irvine, Calif. The combined company will operate under the Sprouts Farmers Market name.

Terms of the deal, expected to close in the second quarter of this year, were not disclosed. The combined grocers will have 98 stores and generate annual sales that exceed $1 billion.

WEST CHESTER, Pa.  -- Home decor expert Thom Filicia has debuted a new line on QVC. 

Thom Filicia Designs for Living includes an exquisite assortment of top-of-bed pieces, including comforters, pillows, throws and sheet sets priced between $28 and $250.

London -- A survey released Thursday said sales growth at Britain's Tesco PLC, the world's third biggest retailer, will outpace its major international rivals -- including Wal-Mart Stores -- in coming years as it expands in Asia, the Associated Press reported.

The report by London-based food and grocery analyst IGD says that Tesco will grow its business at a compound annual rate of 7.5% between 2010 and 2015, taking sales to euro106 billion ($143 billion).

Enterprising television reporters at KGTV in San Diego caused Walmart some grief this week when they uncovered that prices were ringing up incorrectly on some items and customers were not being offered a $3 refund in keeping with a 2008 court order. To watch the video click here or continuing reading.

Seattle -- Nordstrom announced today it has entered into an agreement to acquire HauteLook, a leader in the online private sale marketplace. The company said the acquisition will enable Nordstrom to participate in the fast-growing private sale marketplace and provide a platform to increase innovation and speed in the way it serves customers in all channels.

Toy Fair took over the Javitz Center in New York City this week, and amidst the fun was some serious business as toy companies showcased what they hope will be the next big thing. Just take the Sing-a-ma-jigs line from Mattel. Introduced at last year’s Toy Fair, the harmonizing toy was a major holiday hit, and retailers who got their hands on them reaped the benefits.

Okay, stop snickering. Target this week revealed that the name of its new small format stores would be CityTarget. The company offered that nugget in connection with news that it would open a small-format store in downtown Chicago at the Sullivan Center development located in the heart of downtown at South State Street and Madison.

New York City -- Italian eyewear maker and retailer Luxottica Group SpA said Thursday it will acquire two specialty sunglass retailers in a deal worth about $23 million in a move to gain entry to the Mexican market.

Luxottica’s deal to buy Stanza and High Tech includes more than 70 stores that will eventually be rebranded as Sunglass Hut locations.