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Analyst worries that Kroger comment will lead the grocer down the same path as Sears,
Digital sales growth topped 60%, but GlobalData is concerned about the stores
A comment from Kroger Co. Chief Executive Rodney McMullen has given GlobalData Retail’s Managing Director Neil Saunders a sinking sense of déjà vu, going back to Eddie Lampert and Sears Holding Corp.
On the earnings call, McMullen talked up Kroger’s KR, -1.30% digital advancements. The grocer reported third-quarter digital sales growth of more than 60%.
“We’re moving from a traditional grocer to a growth company with both a strong customer ecosystem that offers anything, anytime, anywhere, and asset-light, high-margin alternative partnerships and services,” he said, according to a FactSet transcript.
...
https://www.marketwatch.com/story/analys...2018-12-07
Digital sales growth topped 60%, but GlobalData is concerned about the stores
A comment from Kroger Co. Chief Executive Rodney McMullen has given GlobalData Retail’s Managing Director Neil Saunders a sinking sense of déjà vu, going back to Eddie Lampert and Sears Holding Corp.
On the earnings call, McMullen talked up Kroger’s KR, -1.30% digital advancements. The grocer reported third-quarter digital sales growth of more than 60%.
“We’re moving from a traditional grocer to a growth company with both a strong customer ecosystem that offers anything, anytime, anywhere, and asset-light, high-margin alternative partnerships and services,” he said, according to a FactSet transcript.
...
https://www.marketwatch.com/story/analys...2018-12-07
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