Kroger CEO William Rodney McMullen speaks during a Senate Judiciary Subcommittee on Competition Policy, Antitrust, and Consumer Rights hearing on the proposed Kroger-Albertsons grocery store merger, at the Capitol in Washington, Tuesday, Nov. 29, 2022.
Kroger CEO Rodney McMullen said the days of shoppers buying all their groceries at one store once a week are gone. Shoppers often get their groceries at five or six different locations, he said. Lee needled Kroger for approving a $1 billion stock buyback last year even as food prices were jumping for consumers. Lee said U.S. households paid an average of $110 more for food in October than they did a year ago.
Others peppered the companies with questions about potential store closures or employee layoffs. Kroger and Albertsons have said they will sell or spin off up to 375 Albertsons stores in markets where they currently compete.
Should have had the same skepticism when ABC Disney merged. And CBS /Viacom. It’s never about customers. It’s about consolidating power. Break up all monopolies and trust
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Albertsons, Kroger CEOs to defend $25 bln merger to skeptical U.S. senatorsTop executives at Kroger Co and Albertsons Companies Inc are expected to face tough questions on Tuesday from lawmakers who worry the grocers' planned $25 billion merger will push up food prices at a time when inflation is a concern.
Source: Reuters - 🏆 2. / 97 Read more »
Albertsons, Kroger CEOs defend $25 bln merger to skeptical U.S. senatorsTop executives at Kroger Co and Albertsons Companies Inc on Tuesday defended their planned $25 billion merger before skeptical lawmakers who fear the deal would push up food prices at a time of high inflation.
Source: Reuters - 🏆 2. / 97 Read more »
Kroger, Albertsons bosses go before Senate to defend $25 billion mergerThe hearing will refocus the spotlight on a merger that has sparked opposition from lawmakers, labor unions and consumer groups. No. Ultimate price fixing for essentials for everyday living. No! No, but then break up Amazon / Whole Foods if you’re gonna say that. Precedent is set, grocery is just trying to put together a concerted front before they’re both replaced by digital companies.
Source: dallasnews - 🏆 18. / 71 Read more »
Albertsons, Kroger CEOs to defend $25B merger to skeptical senatorsTop executives at Kroger and Albertsons are expected to face tough questions on Tuesday from lawmakers who worry the grocers' planned $25 billion merger will push up food prices at a time when inflation is a concern. Lawmakers are far more responsible for inflation than anything that Kroger and Albertsons could do. And lawmakers have had nothing to do with inflation? Look in the mirror.
Source: KSLcom - 🏆 549. / 51 Read more »
Workers, government officials raise concerns about Kroger-Albertsons merger as congressional hearing gets underwayMembers of the United Food and Commercial Workers unions representing more than 100,000 Kroger and Albertsons employees in 12 states and Washington, D.C., at the U.S. Capitol on Tuesday as a congressional hearing on the proposed deal got underway.
Source: denverpost - 🏆 13. / 72 Read more »
Kroger, Albertsons Expected to Defend Grocery Merger at Senate HearingThe CEOs of Kroger and Albertsons will likely face questions on how their companies' proposed merger would affect competition and shoppers during a Senate hearing Is it crazy to think that these 2 kinda need this merger? They lose ground all the time to places like WalMart, Aldi and others. Your reminder that post merger the company will have less than 14% of the national grocery market. Proud as punch that her country is bombing innocent children..KARMA
Source: WSJ - 🏆 98. / 63 Read more »