Harris Teeter parent to outsource work to India

Kroger plans to acquire Giant Eagle for $1.65B. Giant Eagle's name and loyalty program will remain. Concerns include potential price increases and regulatory approval. Kroger aims to expand in western Pennsylvania and Cleveland, with overlap in Columbus, Ohio. Federal regulators may require store sales to ease competition concerns.

Kroger plans to open 10 new stores across 5 states, including Indiana, Texas, Ohio, West Virginia, and Florida. The company is increasing store construction by 30% and investing billions in new locations and remodels. Kroger also acquired Giant Eagle for $1.65 billion, adding to its portfolio. Some stores are closing due to low performance, but Kroger aims to mitigate any negative impact. New stores will primarily be larger Marketplace locations offering a wider range of products.

Albertsons will close additional Safeway stores in 2026 as it reassesses its footprint after its proposed $24.6 billion merger with Kroger was blocked and terminated in Dec 2024. The company reported 35 closures in fiscal 2025 and a 0.8% decline in Q1 identical grocery sales, with full-year identical sales expected down 1.5% to 0.5%.

Ferrero said it will buy US better-for-you brand Purely Elizabeth, keeping it as a standalone brand within the Ferrero Group. Founder and CEO Elizabeth Stein will remain in her role. Purely Elizabeth’s products are in about 30,000 US stores, and sales have more than doubled in two years. Ferrero plans to expand distribution and innovation.

Berkshire Hathaway increased its Alphabet stake 83% to about 106 million shares, worth nearly $38 billion at June 30, after agreeing to buy $10 billion of Alphabet stock in a June private placement and buying 19.6 million shares on the open market, according to a portfolio disclosure. Berkshire also bought net $20 billion of stocks in Q2.

Kroger says it has closed at least 39 stores across nine banners as part of a plan to shutter 60 underperforming locations by end-2026, according to reporting and company statements. Closures span Kroger, Fred Meyer, Fry’s, Harris Teeter, King Soopers, Mariano’s, Pick ‘n Save, QFC and others. Kroger also plans faster expansion and a $1.65B Giant Eagle acquisition, per outlets.