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Kroger caps pandemic-fueled record year with upbeat profit forecast

By Reuters Staff 2 Min Read (Reuters) - Kroger Co on Thursday forecast strong annual earnings as it reins in costs after record sales for 2020 on a boom in demand for groceries during the pandemic. FILE PHOTO: The Kroger supermarket chain s headquarters is shown in Cincinnati, Ohio, U.S., June 28, 2018. REUTERS/Lisa Baertlein Kroger consistently topped sales estimates last year as consumers, looking to stock up on food and household essentials, rushed in droves to the websites and apps of big national retail chains to shop from the relative safety of their homes. Shares in the supermarket chain that said online sales more than doubled in the fourth quarter rose about 2% in morning trade.

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Walmart s Flipkart in early talks for U S listing via SPAC deal: sources

Walmart s Flipkart in early talks for U S listing via SPAC deal: sources
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Apollo Global Management to buy Michael Cos for $3 3 billion

Apollo Global Management to buy Michael Cos for $3 3 billion
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Michaels cosUday sampathMaju samuelThomson reuters trust principlesApollo global managementThomson reuters trustமைக்கேல்ஸ் கோஸ்ஊடாய் சம்பத்மஜு சாமுவேல்தாம்சன் ராய்ட்டர்ஸ் நம்பிக்கை ப்ரிந்ஸிபல்ஸ்அப்பல்லோ உலகளாவிய மேலாண்மைதாம்சன் ராய்ட்டர்ஸ் நம்பிக்கை

Crafts retailer Michaels to be taken private by Apollo for $3 3 billion

Crafts retailer Michaels to be taken private by Apollo for $3 3 billion
reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.

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Apollo Global Management to take Michaels Cos private for $3 3 billion

By Reuters Staff 2 Min Read (Reuters) - Michaels Cos said on Wednesday it would be taken private by Apollo Global Management for $3.3 billion, less than seven years after the craft supplies retailer returned to public markets. The private equity firm will pay Michaels shareholders $22 per share, a 46.7% premium to the stock’s close on Friday, before the New York Times first reported a potential deal. Michaels’ shares were trading at just $4 a year ago before the COVID-19 pandemic led its sales to jump as people, taking up hobbies while staying at home, rushed to buy art supplies and scrapbooks. The retailer’s stock rose 22% in early trading on Wednesday to slightly above the offer price.

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