Thursday, December 1, 2016

Lower food prices weigh on Kroger's profit forecast

A selection of Kroger brand products is displayed in Golden, Colorado September 15, 2009. REUTERS/Rick Wilking/File PhotoKroger Co, the biggest U.S. supermarket chain, lowered the higher end of its full-year adjusted profit forecast amid falling food prices and increasing competition from rivals such Wal-Mart and Sprouts Farmers Market Inc.

Food prices in the United States have been falling due to low oil and grain prices, and intense competition among retailers as big grocery sellers such as Wal-Mart Stores Inc aggressively cut prices to attract customers.. . . more

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