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Wall Street skeptical as Kroger promises to slash grocery prices by $1B after Albertsons merger

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Donald Trump,Inflation,Kamala Harris

The merger has faced substantial legal hurdles and comes at a time of low consumer sentiment.

Grocery giant Kroger pledged to slash prices at Albertsons stores by $1 billion following its proposed acquisition of the rival chain — but Wall Street is increasingly skeptical the deal will win government approval as food inflation continues to roil US politics.

The deal is an attempt to better position Kroger against Walmart, whose grocery prices fall about 25% lower than traditional supermarkets andMiriam Marini/Detroit Free-Press / USA TODAY NETWORK Former President Donald Trump called Harris’ grocery price plan “communist price controls.” He argued the price gouging ban would worsen inflation.

“This is going to help at these rallies and I believe these names are going to come up to show how they protect the consumers,” Mahoney told The Post. “It’s going to be a poster child of ‘Don’t do mergers.’”A Kroger spokesperson said the company has continued to invest in customer prices, employee wages and store experience since the merger was announced two years ago.In February, Colorado Attorney General Phil Weiser followed suit.

 

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