Price Cuts Hit Kroger Q2 Profits

Gaining sales in the current environment is turning out to be more costly than Kroger anticipated, but the retailer isn't apologizing for it. A combination of rapidly escalating deflation and increasing price competition pressured Kroger to invest more in margins to spark sales in the fiscal second quarter, officials said last week. As a result, Kroger fell short of quarterly earnings expectations

CINCINNATI — Gaining sales in the current environment is turning out to be more costly than Kroger anticipated, but the retailer isn't apologizing for it.

A combination of rapidly escalating deflation and increasing price competition pressured Kroger to invest more in margins to spark sales in the fiscal second quarter, officials said last week. As a result, Kroger fell short of quarterly earnings expectations and lowered its profit forecast for the fiscal year, while eking out

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