DIRS.INFO The most relevant business & tech news

☆ US government sues to block largest supermarket merger in history
▼ + stars: | 2024-02-26 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +4 min

New York CNN —The Federal Trade Commission on Monday sued to block the $25 billion deal between Kroger and Albertsons, alleging the largest supermarket merger in US history would lead to higher prices for consumers. The merger, announced in 2022, sought to combine the fifth and tenth largest retailers in the country. “This supermarket mega merger comes as American consumers have seen the cost of groceries rise steadily over the past few years. With the FTC’s blessing, Haggen, a small supermarket chain in the Northwest with just 18 locations, bought 146 of the former Albertsons and Safeway stores. She criticized the FTC’s handling of Albertsons’ deal with Safeway, pointing to it as a prime example of the limitations of divestitures.

Persons: Harris Teeter, Fred Meyer, Kroger, Rodney McMullen, Henry Liu, Piggly, Khan, Lina Khan, Haggen, ” Khan, “ Organizations: New, New York CNN, Federal Trade Commission, Kroger, Albertsons, Safeway, Vons, Bureau of Labor Statistics, FTC, Walmart, Amazon, Costco, Competition, S Wholesale Grocers, Democrats, Republicans, Capitol Locations: New York, United States, Aldi, FTC’s, Northwest

☆ Washington state wants to block the Kroger-Albertsons merger
▼ + stars: | 2024-01-16 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +1 min

New York CNN —Washington state is suing to block the proposed $25 billion merger between supermarket chains Kroger and Albertsons, warning that if approved it could raise prices and harm consumers. In a suit filed Monday by the state’s Attorney General Bob Ferguson, his reasons for opposing the merger are because it would “severely limit” grocery store options for Washington residents and “eliminate vital competition” among the brands. “This merger is bad for Washington shoppers and workers,” Ferguson said. Kroger announced it was buying Albertsons in 2022 with the transaction expecting to close later this year, depending on regulatory approval. The companies say they will reach 85 million households.

Persons: Bob Ferguson, ” Ferguson, “, Kroger, ”, ” Kroger Organizations: New, New York CNN, Albertsons, Washington, “, Kroger Locations: New York, Washington

☆ Kroger and Albertsons sell 400 stores to Piggly Wiggly’s parent company
▼ + stars: | 2023-09-08 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +4 min

New York CNN —Kroger and Albertsons are selling roughly 400 stores to Piggly Wiggly’s parent company in an attempt to win antitrust approval for the mega merger between the grocery stores. C&S, a privately held company, operates 500 grocery stores under the Piggly Wiggly and Grand Union banners and is also a major grocery wholesaler. On Friday, Kroger reported $33.85 billion in revenue for the second quarter, slightly under analyst estimates of $34.63 billion. Company executives said part of the quarterly loss related to economic headwinds, organized retail theft and opioid settlement payments. The largest to date is a $26 billion settlement involving several companies that began paying out last year and continues for 18 years.

Persons: New York CNN —, ” Kroger, ”, Mark McGowan, Kroger Organizations: New, New York CNN, New York CNN — Kroger, Albertsons, S Wholesale Grocers, Union, Walmart, Costco, Aldi, ., Kroger Locations: New York, Arizona , California, Colorado, Wyoming, Amazon, Aldi, Dixie, ” State

All fuel centers and pharmacies associated with the divested stores will remain with the stores and continue to operate. Kroger, based in Cincinnati, Ohio, bid $20 billion for Albertsons. C&S, which was founded in 1918, is a supplier to independent grocery stores, supplying more than 7,500 independent supermarkets, retail chain stores and military bases. It currently runs Grand Union grocery stores and Piggly Wiggly franchise and corporate-owned stores in the Midwest and Carolinas. Shares of Kroger Co., based in Ohio, rose 5% Thursday and Albertsons Cos., based in Idaho, rose 3%.

Persons: Debi Lilly Design, Primo Taglio, Kroger, ” Kroger, Rodney McMullen Organizations: Kroger, Albertsons, S Wholesale Grocers, Waterfront Bistro, Walmart, Amazon, Aldi, Winn, Dixie, Federal Trade Commission, Union, Kroger Co, Albertsons Cos Locations: Cincinnati , Ohio, Midwest, Carolinas, Ohio, Idaho

☆ CIOs in 2023 Want to Know: Who’s Got Talent?
▼ + stars: | 2022-12-27 | by ( Isabelle Bousquette | ) www.wsj.com time to read: +5 min

As the information technology talent gap continues into 2023, chief information officers are augmenting recruiting efforts with new models like upskilling, job sharing and rotations as well as raising salaries and offering perks to retain workers. Some also believe the shifting economy could make it easier to fill vacancies, although the short term talent market remains challenging. “It’s been a source of should we, not deprioritize, but re-sequence the work that we’re doing,” Kroger CIO Yael Cosset said of the talent shortage. Duke Energy is developing certification curricula and joining with software companies on education programs to help internal talent learn new skills, said CIO Bonnie Titone. SHARE YOUR THOUGHTS What do you think CIOs can do to find and retain talent in 2023?

☆ Walmart CEO: Inflation on toys, clothing and sports equipment is easing
▼ + stars: | 2022-12-06 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +1 min

New York CNN Business —Finally, shoppers are getting some good news about prices: Inflation is falling on discretionary merchandise just in time for the holidays, Walmart chief Doug McMillon said Tuesday. “In toys, sporting goods, apparel, categories like that, prices have come down more aggressively,” McMillon said in an interview on CNBC. Sporting goods were up 3%, while apparel was up 4.1%. McMillon said budget-conscious customers were most pressured by inflation, but other shoppers “have money to spend.”Kroger (KR)also said last week that food inflation was easing. “If you look at in our fresh departments, clearly, inflation is slowing down in many categories,” Kroger chief Rodney McMullen said on a call with analysts.

☆ Kroger and Albertsons want to create a grocery empire. The last supermarket mega-merger backfired
▼ + stars: | 2022-11-29 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +7 min

With the FTC’s blessing, Haggen, a small supermarket chain in the Northwest with just 18 locations, bought 146 of the former Albertsons and Safeway stores, including the one where Martinez worked. In an weird twist, Albertsons bought back dozens of the same stores it previously sold to Haggen in bankruptcy court — at a lower price. Now she worries Kroger will divest Ralphs as part of its merger with Albertsons in a repeat of the Haggen 2015 deal. To address antitrust concerns that the merger will stifle competition in local markets where they overlap, Kroger and Albertsons plan to divest stores. In 2015, Haggen bought a Vons grocery store (owned by Safeway at the time) in Carpinteria as part of the Albertsons and Safeway divestitures.

The companies said Kroger agreed to buy Albertsons for $34.10 a share in a deal valued at $24.6 billion. The tie-up comes during a challenging time in the grocery industry. The grocery industry is highly fragmented. Albertsons’ share was about 5%. Consolidation in the grocery industry has not historically paid off in the form of higher profits, he said.

Search resuls for: "” Kroger"

8 mentions found