Kroger was downgraded by Jefferies to hold from buy due to what it believes was a key mistake: investing in centralized fulfillment centers instead of micro-fulfillment.
Kroger should be following Walmart’s lead, Jefferies analyst Christopher Mandeville added in a note Thursday.
For a grocery store chain, capturing online shoppers and catching up to Amazon-owned Whole Foods is a tricky business. Companies are grappling with how to fulfill and deliver customers’ orders of fresh produce and groceries quickly and cheaply.
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