KROGER AGREES TO BECOME PARTNER IN NET EXCHANGE

CINCINNATI -- Kroger Co. here said last week it has reached a tentative agreement to become an equity partner in GlobalNetXchange, the retail industry's first global business-to-business on-line exchange.Kroger, the first U.S. food retailer to participate, said it expects the exchange to help reduce its purchasing expenses and improve the efficiency of its supply chain. It also said the cost savings

CINCINNATI -- Kroger Co. here said last week it has reached a tentative agreement to become an equity partner in GlobalNetXchange, the retail industry's first global business-to-business on-line exchange.

Kroger, the first U.S. food retailer to participate, said it expects the exchange to help reduce its purchasing expenses and improve the efficiency of its supply chain. It also said the cost savings generated from Internet-based transactions will allow its purchasing and procurement

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