Kroger quarterly same-store sales missed market expectations in a sign that reduced spending by budget-conscious consumers and stiff competition due to higher discounts from rivals hurt volumes. The Cincinnati, Ohio-based company posted a 1% rise in same-store sales for the second quarter, reports Reuters. Analysts on average had expected a 1.26% rise, as per LSEG IBES estimates. The quarterly results include a $1.4 billion charge related to a nationwide opioid settlement framework, Kroger said. The company added that the settlement and the payment terms will not affect Kroger's ability to complete its proposed merger with Albertsons. It also expects to reduce its net total debt to adjusted EBITDA ratio to 2.50 within 18 – 24 months post the closure of the deal.
Esselunga has opened a new supermarket in Rome, taking the total number of stores in the capital city to four, reports ESMmagazine.com. In 2017, Esselunga opened its first store in Rome in via Prenestina, followed by two laEsse stores in 2021 and 2022. The new store in Viale Liegi employs 28 people and is located on the ground floor of a building intended for offices and homes, the company said. Featuring a sales area of 560 square metres, the new supermarket offers over 4,000 products across various categories. The entrance opens into the fruit and vegetables section, offering loose and packaged products.
French retailer Intermarché has announced a promotional campaign on some 500 private-label SKUs – as well as 500 branded products – under the banner '1,000 Produits Pouvoir D'Achat' (1,000 Purchasing Power Products). The campaign will run for a period of 100 days from the end of August, and follows on from the Les Mousquetaires-owned grocer's '500 produits anti-inflation' initiative. It will see the retailer 'significantly strengthen its fight to defend purchasing power' amid continued high inflation, it said in a statement.
