Kroger says it will close 60 stores across the U.S. over the next 18 months
How to save on groceries as prices climb
How to save on groceries as prices climb
Kroger said it plans to close 60 of its supermarkets across the U.S. over the next 18 months.
The planned store closures represent about 5% of the Cincinnati-based company's 1,239 Kroger-branded grocery stores across 16 states. The grocery retailer did not specify which store locations it plans to cease operating.
Kroger did not immediately respond to CBS MoneyWatch's request for comment about the store closure locations.
The grocery chain announced the planned reduction of its footprint as it reported its first-quarter earnings Friday. Sales dropped slightly to $45.1 billion compared to $45.3 billion for the same period a year earlier.
Kroger said that it expects the 60 store closures to buoy the company financially, according to a regulatory filing.
"In the first quarter, Kroger recognized an impairment charge of $100 million related to the planned closing of approximately 60 stores over the next 18 months. As a result of these store closures, Kroger expects a modest financial benefit," the company said.
Kroger said the resulting savings will be invested in customer experience initiatives. Kroger also said that all employees at affected stores will be offered roles at other Kroger store locations.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
24 minutes ago
- Yahoo
Investors Can Find Comfort In Covenant Logistics Group's (NYSE:CVLG) Earnings Quality
Explore Covenant Logistics Group's Fair Values from the Community and select yours Covenant Logistics Group, Inc.'s (NYSE:CVLG) stock was strong despite it releasing a soft earnings report last week. However, we think the company is showing some signs that things are more promising than they seem. Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. How Do Unusual Items Influence Profit? Importantly, our data indicates that Covenant Logistics Group's profit was reduced by US$9.8m, due to unusual items, over the last year. While deductions due to unusual items are disappointing in the first instance, there is a silver lining. We looked at thousands of listed companies and found that unusual items are very often one-off in nature. And that's hardly a surprise given these line items are considered unusual. If Covenant Logistics Group doesn't see those unusual expenses repeat, then all else being equal we'd expect its profit to increase over the coming year. That might leave you wondering what analysts are forecasting in terms of future profitability. Luckily, you can click here to see an interactive graph depicting future profitability, based on their estimates. Our Take On Covenant Logistics Group's Profit Performance Because unusual items detracted from Covenant Logistics Group's earnings over the last year, you could argue that we can expect an improved result in the current quarter. Based on this observation, we consider it likely that Covenant Logistics Group's statutory profit actually understates its earnings potential! Unfortunately, though, its earnings per share actually fell back over the last year. Of course, we've only just scratched the surface when it comes to analysing its earnings; one could also consider margins, forecast growth, and return on investment, among other factors. With this in mind, we wouldn't consider investing in a stock unless we had a thorough understanding of the risks. Every company has risks, and we've spotted 1 warning sign for Covenant Logistics Group you should know about. This note has only looked at a single factor that sheds light on the nature of Covenant Logistics Group's profit. But there is always more to discover if you are capable of focussing your mind on minutiae. For example, many people consider a high return on equity as an indication of favorable business economics, while others like to 'follow the money' and search out stocks that insiders are buying. So you may wish to see this free collection of companies boasting high return on equity, or this list of stocks with high insider ownership. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Yahoo
24 minutes ago
- Yahoo
InMode Ltd.'s (NASDAQ:INMD) Stock Been Rising: Are Strong Financials Guiding The Market?
InMode's (NASDAQ:INMD) stock up by 3.3% over the past month. Since the market usually pay for a company's long-term financial health, we decided to study the company's fundamentals to see if they could be influencing the market. In this article, we decided to focus on InMode's ROE. Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. In simpler terms, it measures the profitability of a company in relation to shareholder's equity. AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. How Do You Calculate Return On Equity? Return on equity can be calculated by using the formula: Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity So, based on the above formula, the ROE for InMode is: 28% = US$179m ÷ US$628m (Based on the trailing twelve months to June 2025). The 'return' is the yearly profit. That means that for every $1 worth of shareholders' equity, the company generated $0.28 in profit. View our latest analysis for InMode What Has ROE Got To Do With Earnings Growth? So far, we've learned that ROE is a measure of a company's profitability. Based on how much of its profits the company chooses to reinvest or "retain", we are then able to evaluate a company's future ability to generate profits. Generally speaking, other things being equal, firms with a high return on equity and profit retention, have a higher growth rate than firms that don't share these attributes. InMode's Earnings Growth And 28% ROE To begin with, InMode has a pretty high ROE which is interesting. Additionally, the company's ROE is higher compared to the industry average of 11% which is quite remarkable. Probably as a result of this, InMode was able to see a decent net income growth of 14% over the last five years. As a next step, we compared InMode's net income growth with the industry and found that the company has a similar growth figure when compared with the industry average growth rate of 13% in the same period. Earnings growth is an important metric to consider when valuing a stock. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. Doing so will help them establish if the stock's future looks promising or ominous. What is INMD worth today? The intrinsic value infographic in our free research report helps visualize whether INMD is currently mispriced by the market. Is InMode Efficiently Re-investing Its Profits? Given that InMode doesn't pay any regular dividends to its shareholders, we infer that the company has been reinvesting all of its profits to grow its business. Summary Overall, we are quite pleased with InMode's performance. Particularly, we like that the company is reinvesting heavily into its business, and at a high rate of return. Unsurprisingly, this has led to an impressive earnings growth. That being so, according to the latest industry analyst forecasts, the company's earnings are expected to shrink in the future. Are these analysts expectations based on the broad expectations for the industry, or on the company's fundamentals? Click here to be taken to our analyst's forecasts page for the company. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Yahoo
24 minutes ago
- Yahoo
Harrow Second Quarter 2025 Earnings: EPS Beats Expectations, Revenues Lag
Harrow (NASDAQ:HROW) Second Quarter 2025 Results Key Financial Results Revenue: US$63.7m (up 30% from 2Q 2024). Net income: US$5.00m (up from US$6.47m loss in 2Q 2024). Profit margin: 7.8% (up from net loss in 2Q 2024). The move to profitability was driven by higher revenue. EPS: US$0.14 (up from US$0.18 loss in 2Q 2024). This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. All figures shown in the chart above are for the trailing 12 month (TTM) period Harrow EPS Beats Expectations, Revenues Fall Short Revenue missed analyst estimates by 3.5%. Earnings per share (EPS) exceeded analyst estimates. Looking ahead, revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Pharmaceuticals industry in the US. Performance of the American Pharmaceuticals industry. The company's shares are up 13% from a week ago. Balance Sheet Analysis While earnings are important, another area to consider is the balance sheet. We've done some analysis and you can see our take on Harrow's balance sheet. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
