News Formal

Kroger Executive Admits Company Gouged Prices Above Inflation

  • 📰 Newsweek
  • ⏱ Reading Time:
  • 19 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 52%

Nederland Nieuws Nieuws

Nederland Laatste Nieuws,Nederland Headlines

Kroger's senior director for pricing Andy Groff said the grocery giant had raised prices for eggs and milk beyond inflation levels.

A top company leader at Kroger has admitted during an antitrust trial the company gouged prices on select items above inflation levels.While testifying to a Federal Trade Commission attorney Tuesday, Kroger's Senior Director for Pricing Andy Groff said the grocery giant had raised prices for eggs and milk beyond inflation levels.'This is not at all surprising,' Drew Powers, the founder of Illinois-based Powers Financial Group, told Newsweek.

'The FTC antitrust case alleges that if Kroger successfully acquires Albertsons, consumers will see even higher price hikes due to the reduced competition from the two chains being merged.Larger Trend?During the pandemic, food and energy prices drove the overall level of inflation, and many of those same sectors saw companies post record profits, Powers said.

 

Bedankt voor uw reactie. Uw reactie wordt na beoordeling gepubliceerd.
Wij hebben dit nieuws samengevat zodat u het snel kunt lezen. Bent u geïnteresseerd in het nieuws, dan kunt u hier de volledige tekst lezen. Lees verder:

 /  🏆 468. in NL

Nederland Laatste Nieuws, Nederland Headlines

Similar News:Je kunt ook nieuwsberichten lezen die vergelijkbaar zijn met deze die we uit andere nieuwsbronnen hebben verzameld.

Equinox hires Macy’s executive as new company presidentMarc Mastronardi will be at the helm of the American luxury fitness club, effective Aug. 12.
Bron: LuxuryDaily - 🏆 325. / 59 Lees verder »

CenterPoint Energy executive ‘no longer with the company,’ according to emailIn an emailed statement to KPRC 2, CenterPoint says Lyanne Wilson, who served as Senior Vice President of Electric Business, 'is no longer with the company.'
Bron: KPRC2 - 🏆 80. / 68 Lees verder »

Meta CEO admits Biden-Harris admin pressured company to censor AmericansMeta CEO Mark Zuckerberg admitted in a letter to House Judiciary Committee Chairman Jim Jordan that the Biden-Harris admin pressured Facebook to censor Americans.
Bron: FoxBusiness - 🏆 458. / 53 Lees verder »

Central Pa. company’s internal technology division is now a separate companyThe company provides software solutions to assist businesses.
Bron: PennLive - 🏆 463. / 53 Lees verder »

Major Ohio-based company stocks rebound, Cleveland company had top growth last weekFour major companies in the Greater Cleveland area experienced stock gains of at least 2.5% last week.
Bron: clevelanddotcom - 🏆 301. / 63 Lees verder »