Pick ‘N Save Parent Kroger Cutting Store Renovation Spending Because Of Price Deflation

Food price deflation isn’t just hurting Kroger Co.’s sales and earnings, it’ll cut into the company’s spending on capital investments as well.

But Kroger (NYSE: KR) CEO Rodney McMullen told investors Friday on a conference call after the Cincinnati-based supermarket giant posted second-quarter earnings that the company is still strong amid a tough environment.

“We continued to increase market share, improve tonnage and grow loyal households,” McMullen said.

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