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Grocery giant Kroger needs time to show its revamp is working
Sales for the largest packaged food companies have been down the past few years as changing tastes, startup brands and e-commerce giants threaten from all angles. WSJ’s Ken Brown takes us on a walk through the supermarket. Photo: Getty Images.
Grocery giant Kroger is making the right moves to prepare for the future. Investors overreacted to a slightly weak quarter that reflects the costs of those preparations.
Kroger shares were down around 10% midday Thursday despite having beaten analyst estimates for second-quarter earnings per share.
The culprit was disappointing sales growth:...