Kroger's CEO says shoppers would see lower prices after the chain's merger with Albertsons

Kroger CEO Rodney McMullen argued in favor of what would be the largest grocery chain merger in U.S. history while testifying during a federal court hearing in Oregon on the U.S. government's request for a preliminary injunction that would block the $24.6 billion deal.

McMullen countered that argument by saying that Albertsons prices are 10-12% higher than Kroger’s and that the merged company would try to reduce that disparity as part of a strategy for keeping customers. Walmart now controls around 22% of U.S. grocery sales. Combined, Kroger and Albertsons would control around 13%.His statements and the upcoming testimony of Albertsons CEO Vivek Sankaran were expected to be critical components of the three-week hearing, which is at its mid-point.

The FTC and labor union leaders also claim that workers’ wages and benefits would decline if Kroger and Albertsons no longer compete with each other. They’ve additionally expressed concern that potential store closures could create so-called food and pharmacy “deserts” for consumers. Speaking in 2022 before the U.S. Senate subcommittee on competition policy, antitrust and consumer rights, the Albertsons CEO said his company’s acquisition of brands such as Safeway over the previous decade had allowed it to increase the number of its stores from 192 to 2,300.The FTC alleges that C&S is ill-prepared to take on those stores.

日本 最新ニュース, 日本 見出し

Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。

Kroger's CEO says shoppers would see lower prices after the chain's merger with AlbertsonsThe chief executive officer of Kroger insisted Wednesday that merging with rival Albertsons would allow the two supermarket companies to lower prices and...
ソース: YahooFinanceCA - 🏆 47. / 63 続きを読む »

Kroger plans to lower prices by $1 billion after Albertsons merger closesKroger had previously promised to lower grocery prices by $500 million at Albertsons locations. The supermarket mega-merger, first announced in October 2022...
ソース: YahooFinanceCA - 🏆 47. / 63 続きを読む »

Kroger and Albertsons defend merger plan in federal court against US regulators' objectionsPORTLAND, Ore. (AP) — Supermarket chain Albertsons told a federal judge Monday that it might have to lay off workers, close stores and even exit some markets if its planned merger with Kroger isn't allowed to proceed.
ソース: SooToday - 🏆 8. / 85 続きを読む »

Kroger and Albertsons head to court to defend merger plan against US regulators' objectionsPORTLAND, Ore. (AP) — Kroger and Albertsons defended their plan to merge – and tried to overcome the U.S. government’s objections – in a federal court hearing that began Monday in Oregon.
ソース: SooToday - 🏆 8. / 85 続きを読む »

Kroger, Albertsons head to court to defend merger plan against U.S. regulators’ objectionsFTC’s chief trial counsel says the grocers currently compete in 22 states, closely matching each other on price, quality, private label products and services such as store pickup
ソース: globeandmail - 🏆 5. / 92 続きを読む »

Kroger and Albertsons head to court to defend merger plan against US regulators' objectionsPORTLAND, Ore. (AP) — Kroger and Albertsons defended their plan to merge – and tried to overcome the U.S. government’s objections – in a federal court...
ソース: YahooFinanceCA - 🏆 47. / 63 続きを読む »