Kroger Beats Profit Estimates on Easing Costs, Steady Grocery Demand
Supermarket chain Kroger topped Wall Street estimates for first-quarter profit and same-store sales on Thursday, helped by steady demand for groceries and household essentials even as food prices remain high and easing supply chain costs.
Big-box retailers such as Kroger and Walmart have used their extensive nationwide operations to negotiate better deals with suppliers, which allowed them to keep prices substantially lower than competition and lure more people.
Kroger also profited from shoppers - including higher-income consumers looking for more economical options amid persistent inflation...
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