Kroger's $3 billion splurge set to hit earnings, shares slide

- Kroger Co projected annual profit below Wall Street estimates on Thursday, as the grocer spends billions of dollars on modernizing its stores and delivery to compete better with Walmart and Amazon.

Profits are expected to come under pressure as the retailer plans annual spending of up to $3.2 billion — up from $3 billion last year — to overhaul stores and improve its online business under a program called “Restock Kroger” launched over a year ago. Such moves are expected to help Kroger better compete with the likes of Amazon, which is looking to expand in the grocery business, according to media reports.

The Krogers store by us looks like a grocery store from the 60's.

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Kroger earnings outlook disappoints, shares slide 10 percentKroger Co projected annual earnings below Wall Street forecasts on Thursday, as ... Is that why one of their properties, Smith's, will no longer be accepting Visa credit cards due to 'fees?'
La source: Reuters - 🏆 2. / 97 Lire la suite »

Kroger shares plunge after earnings, revenue missKroger reported earnings before the bell Thursday. If you have been to one you would know why. Low quality staff and unattractive stores. I went to their seafood department to a store in GA and asked for recommendation of shrimp. Attendant told me “I don’t know I don’t eat seafood.” 😳😳😳 🤦‍♂️ never been back sense! ❤️
La source: CNBC - 🏆 12. / 72 Lire la suite »