Kroger, Albertsons pledge to cut prices by $1 billion after merger

📆 8/16/2024 12:26 PM
📰 dallasnews

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Grocery giants Kroger and Albertsons are looking to convince federal regulators that its proposed $25 billion merger won't negatively impact consumers by...

FILE - A customer removes her purchases at a Kroger grocery store in Flowood, Miss., June 26, 2019. Kroger and Albertsons are looking to sweeten the deal for U.S. regulators concerned about the proposed $25 billion merger between the two grocery chains.

Kroger said it plans to cut prices by $1 billion if the merger with Albertsons can get approval. The companies previously promised to cut prices by $500 million in February. If the merger goes through, it would create a mega-chain of grocery stores of more than 4,000 stores across the country. The companies have a

“As we’ve prepared for integration since announcing our planned merger nearly two years ago, we continued our ongoing work to confirm and increase opportunities to generate efficiencies to invest back in customer prices, associate wages and store experience,” a Kroger spokesperson toldover email. “After the merger closes, Kroger will invest $1 billion to lower Albertsons’ prices, consistent with Kroger’s track record of fighting inflation and providing value to customers.

But Kroger has contended the merger would result in the opposite. Beyond its latest commitment to cut prices by $1 billion, Kroger has also previously said it would increase worker wages by $1 billion. Both companies are also looking to sell nearly 600 stores nationwide,Kroger, Albertsons and the Federal Trade Commission will step before the court on Aug. 26 in Portland to determine if the merger will go through.

The Dallas Morning News’ annual ranking of the 150 largest publicly traded companies in Dallas-Fort Worth, based on revenue from fiscal year 2023, is here to unpack the chaos. The ranking is one of the most comprehensive on the market, making it a useful tool for potential job-seekers, a reference for rivals looking to check-in on their competitors and a gauge of the region’s general business health.

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