$1B Charge Hammers Kroger's Q3

A massive goodwill charge at the Ralphs banner, aggressive price investments and lingering deflation helped drive Kroger Co.'s third-quarter profits off a cliff. Based solely on our tonnage, we had a solid quarter, David B. Dillon, chairman and chief executive officer, told industry analysts during a conference call last week in an effort to put a positive spin on the results. Tonnage was

CINCINNATI — A massive goodwill charge at the Ralphs banner, aggressive price investments and lingering deflation helped drive Kroger Co.'s third-quarter profits off a cliff.

“Based solely on our tonnage, we had a solid quarter,” David B. Dillon, chairman and chief executive officer, told industry analysts during a conference call last week in an effort to put a positive spin on the results. Tonnage was up more than 8.5%, he noted.

The loss for the quarter, which ended

Register to view the full article

TAGS: Kroger