Kroger Cuts Prices on Thousands of Items as Q1 Same-Store Sales Track Low End
Updated
Updated · WKRC TV Cincinnati · Jun 21
Kroger Cuts Prices on Thousands of Items as Q1 Same-Store Sales Track Low End
2 articles · Updated · WKRC TV Cincinnati · Jun 21
Summary
Kroger is already investing aggressively in price cuts before a broader markdown push fully launches, according to a Jefferies analyst.
Q1 identical-store sales, due to be reported June 18, appear headed for the low end of Kroger's expectations as inflation starts to curb supermarket spending.
CEO Greg Foran said last month the grocer plans to lower prices on thousands of items to sharpen competitiveness.
The move underscores pressure on the largest U.S. traditional supermarket operator to defend traffic and sales as shoppers pull back.