Cincinnati-based Kroger, the world’s fourth-largest retailer, is firing on all cylinders these days.
The stock price is way up, and so are sales. Last year, Kroger pulled in $98 billion in sales. That’s almost double the business it was doing in the early 2000s.
Business is so good the supermarket chain is hiring 20,000 more workers.
Jim Hertel, managing partner at Willard Bishop, says that’s quite a feat, considering the fierce competition in the grocery business.
“They are surviving better than any of the traditional supermarket competitors relative to Wal-Mart,” says Hertel.
The company has kept pace with the competition by cutting prices on grocery staples, building its own private brand “Simple Truth” into a near $1 billion business and boosting customer loyalty with personalized coupons, thanks to its sophisticated data analytics.
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.