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Kroger's cost of fighting Amazon saps profit, shares dive

Reuters 

By Lisa Baertlein and Nivedita Balu(Reuters) - Kroger Co forecast full-year profit below Wall Street's estimates on Thursday as its investments to fend off Walmart Inc and Amazon.com Inc squeeze the grocer's margins, sending its shares tumbling almost 13 percent. The owner of some 2,800 supermarkets, including Ralphs, Harris Teeter, Fred Meyer and Mariano's, use benefits from lower corporate taxes to expand services like home delivery, curbside pickup and self-checkout under its broad "Restock Kroger" program to make shopping more convenient and affordable, trading off capital spending for ...

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First Published: Thu, March 08 2018. 23:31 IST
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