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.
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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
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