Kroger Co. has been hammering Wal-Mart Stores when it comes to market share in recent years, but the discount store is starting to fight back.
Wal-Mart (NYSE: WMT), Kroger’s biggest rival for supermarket customers in most of its major markets, has seen its results rebound. Its stock is on the rise, and the quarterly earnings it reported late last week show Wal-Mart is targeting Kroger (NYSE: KR) and other traditional supermarkets to regain some of the market share that slipped.
“Wal-Mart is going on the offensive,” Jim Hagerty, a principal and investment adviser with downtown-based money management firm Bartlett & Co., told me.
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