Financials

Retailers

Costco sees sales increase for fourth quarter; no rise in membership fees

"There are no specific plans regarding a fee increase at this time,” said CFO Richard Galanti.

Kroger

Kroger same-store sales jump 5.8%, raises full-year guidance

“We will continue to focus on providing affordable, fresh food to our customers, investing in wages and the associate experience,” Chairman and CEO Rodney McMullen said in reporting the retailer's second quarter earnings Friday.

The grocer on Friday Launched Smart Way—a new opening price point for Kroger's Our Brands product line, geared toward value-minded shoppers.

Both companies focus on delivering less-than-perfect or surplus foods and other products, while claiming to reduce food waste. They’ll remain separate businesses “in the short term,” Misfits Market said.

Food retailers are investing in ways to grow their omnichannel business and improve the customer experience, according to the 74th annual The Food Retailing Industry Speaks report released Tuesday.

The retailer has proposed acquiring outstanding shares of 400-store Massmart and taking the company private in a bid to stay ahead of Amazon in Africa.

The wholesale club reported record membership fee income Thursday for its second quarter—up 11.3% year over year—as consumers continue to seek value during these inflationary times.

The retailer, which also has distribution and wholesale channels, is seeking to become more efficient amid rising prices. On Thursday, it reported net sales of $2.3 billion, a 7.9% increase over the prior year, for the second quarter.

The retailer on Wednesday said its food and beverage sales increased in the low double digits during the second quarter, far outpacing overall same-store sales growth of 2.6%.

Despite lowering its earnings forecast last month, Walmart’s double-digit growth in food sales propelled a same-store sales increase of 6.5% for the second quarter.

  • Page 1