Retail

Kroger gets hit by higher costs, offsetting bigger grocery baskets

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Customers shop at the produce section of a Kroger Marketplace in Versailles, Kentucky, U.S., on Tuesday, Nov. 24, 2020.

Scotty Perry | Bloomberg | Getty Images

Kroger on Friday said shoppers filled up large baskets of groceries in the fiscal second quarter. They bought bigger items, such as 24-packs of toilet paper. And they replenished fridges frequently, as they cooked more meals at home.

The company’s same-store sales, a key industry metric, were down 0.6% in the three-month period — nearly matching the heightened level of grocery sales during the year-ago period. It raised its outlook for the rest of the year.

Yet shares of Kroger — the country’s largest supermarket operator — fell…



Source cnbc.com

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