Dive Brief: Kroger recorded robust financial results for the third quarter, as it generated $34.2 billion in sales, up from $31.9 billion during the same period in 2021, the company announced Thursday. Same-store sales growth excluding fuel came in at 6.9% on a year-over-year basis.
Link: Kroger raises sales and profit outlook once again with strong Q3 results | Grocery Dive
Kroger still a strong performer in grocery. Private label is a standout. I was worried they were overspending on Ocado in the past, but perhaps they are managing through it.
If the Albertsons merger is approved (I am guessing it will?) it could mean good things for the firm going forward if the integration is done well.
@rickwatson lets hold the phone on the regulatory approval for that acquisition. Kroger must do a few things in order for them to get Albertsons.
What do you think those things are?
At the very least, divest some stores/warehouses to a competitor (hopefully enough to make a viable chain–Albertsons has form on not creating viable spinouts).
Reminds me of the grand reshuffle in the UK 20 years ago driven by various financial backers looking to exit. (In summary: Safeway UK–long since any US involvement in the chain–was taken over by Wm Morrisons–a mandatory divestment to various competitors, mostly Waitrose, and Morrisons then sold off smaller, more rural Safeway stores that didn’t fit their model to Somerfield, and Somerfield ultimately sold itself to CoOp as a financial exit). There’s been a bit of back and forth since between Waitrose and CoOp, and Tesco grew convenience through several takeovers, most recently Booker group (mostly wholesale), to create what the UK has today: national big 3/4, 3/2 further middling nationals, with Aldi/Lidl pushing into the middle and taking share to barki at the heals of the big nationals