Latest news with #KrogerStores
CBS News
8 hours ago
- Business
- CBS News
Kroger says it will close 60 stores across the U.S. over the next 18 months
How to shop smarter and spend less as grocery prices climb 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.
Yahoo
8 hours ago
- Business
- Yahoo
Major Supermarket Chain Confirms 60 Stores Will Close–Here's When
Major Supermarket Chain Confirms 60 Stores Will Close–Here's When originally appeared on Parade. A major supermarket chain is joining the unfortunate, ever-growing list of retailers closing stores. On Friday, while delivering its first quarter results, Kroger said it will close dozens of stores in the near future, according to a June 20 announcement, which explained the "approximately 60 stores" closing were doing so under "planned" circumstances and not like some other retailers that surprised fans when they suddenly shut down. The super grocer said it does not foresee the closures impacting shoppers all too much (other than maybe where they shop) and it is "committed to reinvesting" any financial benefits related to shutting down the locations "back into the customer experience." Related: Kroger also confirmed it will offer roles to all associates currently employed at stores it plans to close, so long as they can make the new commute work. Chairman and CEO Ron Sargent is hopeful that the company's decision and its "commitment to driving growth in our core business" will position Kroger well for the future, sharing in a statement, "We are confident in our ability to build on our momentum, deliver value for customers, invest in associates and generate attractive returns for shareholders." Kroger CFO David Kennerley also said the company's decision to focus on its own brands and its online presence positions it "well to navigate the current environment." The nationwide grocer is one of the largest supermarket chains in the U.S. and currently operates over 2,700 stores nationwide. Which stores it plans on closing and why remains unclear. What we do know is that, according to the official announcement, Kroger will phase out the stores "over the next 18 months," meaning the affected stores will open their doors one last time by the end of December 2026. Next: Major Supermarket Chain Confirms 60 Stores Will Close–Here's When first appeared on Parade on Jun 20, 2025 This story was originally reported by Parade on Jun 20, 2025, where it first appeared.
