Kroger Trims Annual Sales View as Price-Conscious Shoppers Tighten Spending
Kroger narrowed its annual sales forecast on Thursday on signs of shoppers becoming more selective in spending on groceries and fresh produce even as it topped third-quarter profit expectations on the back of cost savings.
The supermarket chain operator is facing pressure from low-income shoppers pulling back and trading down amid cuts to food-stamp benefits.
SNAP benefits, which provide food assistance to those with tighter wallets, briefly lapsed for the first time ever on November 1 during the federal shutdown, squeezing household budgets...
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