Friday, October 14, 2022
The cut-rate supermarket where I work has published a 2nd Quarter report showing that sales totaled $8.4 billion, were over budget by 8.4%. Compared to last year’s same quarter, our sales rose by 17.3%. We workers in the chain almost daily feel a surging of customers.
It’s the economy, stupid.
Today we learn that Kroger and Albertson’s plan to merge. Each chain is big already (Kroger, huge throughout the country, owns Fred Meyer’s; Alberton’s is all over the West Coast and owns Safeway). Combined, they’ll be a ginormous food distributor.
The word is that they’re combining to become more competitive with biggies like Amazon and Walmart. We could guess “biggies” would include Costco.
If the regulators approve this combination, just consider its potential for negotiating and purchasing powers, and also for dominating online sales and food deliveries. Regulatory okay or none, it’s worth following in this increasingly tumultuous economic environment.
How might an outcome allowing merger impact the chain where I work? Somehow our employee-owned grocery consistently provides all the products available elsewhere and at lower prices. Customers say they save about 40% on purchases and love this chain.
(On a side note, a customer explained how to boil fresh ginger and create excellent tea. Ginger tea helps against inflammation and is recommended also for cancer patients.)
Dear Friends: We’re in economic upheaval hoping for a viable future. Diana
2 thoughts on “Still Stupid!”
That Kroger & Albertson merger will not be good for the average consumer & citizen. This country has good antitrust (antimonopoly laws on the books. Ordinary people need to have them enforced.
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The battle is on, and yes, a worrisome proposition. It will test laws and national resolve. For regulatory purposes, Kroger and Albertson’s strategy includes downsizing by closing 400+ stores. We can only imagine what’s ahead through these times of unusually stressful economics.