Kroger In The Ring With Walmart On Food Prices
February 17, 2012 | 1 min to read
CINCINNATI – Kroger Co, the biggest U.S. supermarket operator, says it is more competitive with Walmart and other food sellers after cutting prices and reducing checkout wait times.
The proof? Its most dedicated customers are spending more money at Kroger's stores, executives told Reuters during interviews at the company's Cincinnati headquarters on Tuesday.
Kroger gets about 50 percent of its best shoppers' total spending on food, excluding purchases made at restaurants. Recently, that rate has increased about 1 percentage point a year, Kroger Chief Financial Officer Mike Schlotman told Reuters.
Kroger, along with smaller competitors such as Safeway Inc and Supervalu Inc, continues to squeeze out costs as it competes with non-union discounter Wal-Mart Stores Inc, which sells more groceries than any other U.S. retailer.
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