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