Kroger Co., with $110 billion in sales last year, has become America's second-largest seller of groceries after Wal-Mart Stores Inc., thanks to 51 straight quarters of positive sales growth, along with acquisitions such as supermarket chain Harris Teeter. But sales growth has slowed lately, and investors -- worried that competition and falling food prices mean Kroger's best days may be behind it -- have pushed the stock down 23 percent this year.
grocer's shares jumped 5 percent Wednesday, after Kroger soothed some
of those worries by confirming its full-year earnings guidance at its
annual investor meeting. But the more telling part of the day came near
the end of the meeting, when Kroger executives talked about a potential
change in their M&A strategy.. . . more