Kroger Co. hiked prices on milk and eggs more than needed to account for inflation, the company’s top pricing executive testified during a court hearing on the US government’s bid to block the grocery chain’s purchase of rival Albertsons Cos.
In a March email to his bosses, Andy Groff, Kroger’s senior director for pricing, acknowledged that the company had raised its prices more than required to adjust for higher costs.
“On milk and eggs, retail inflation has been significantly higher than cost inflation,” Groff wrote.
Hopefully the bid is blocked.
In Canada we havent had any grocers mergers refused in the last twenty, thirty years of neocon rule. (both major parties seem fine with companies growing unchecked)
Now nationwide we only three big grocers, monopolies running unchecked is an affordability nightmare.
Gods I hope this merger is killed. It would be so bad for all consumers. In my neighborhood there are 4 grocery stores. 2 Safeways, 1 Fred Meyer, and a Grocery Outlet. If it goes through, that is 75% Kroger. At least if I go a few miles down the road there is a local chain (that is sadly super expensive, think whole foods but local) and a Trader Joe’s.
Agreed. We have three “large” grocery stores in town: a Safeway (Albertson’s), Grocery Outlet, and a local grocery store which, like yours, is extremely expensive. Our Safeway appeared on the list of divestitures and I think that would probably raise prices as well as change the staples we have available. It sounds like a bad situation all around.
Yup. All around bad for people. Much like the Safeway Albertson’s merger was also very bad.
As it should be, since roughly HALF of the recent inflation was actually price gouging.
