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Profits see double-digit growth, Kroger reports
CommentsThe nation’s largest traditional grocer says American consumers are going to its supermarkets more often as they look for bargains and try to make their money last until their next check.
The Kroger Co. reported Tuesday that first-quarter profit shot up 12.7 percent as more recession-hit households eat at home instead of restaurants and buy low-priced store brands.
David B. Dillon, Kroger’s chairman and CEO, told analysts in a conference call that the chain is seeing shoppers buying less per visit but coming to the store more often.
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