All articles tagged with #merger failure
Kroger plans to close 60 underperforming stores over the next 18 months following the abrupt resignation of CEO Rodney McMullen and the collapse of its $25 billion merger with Albertsons, as the company focuses on reinvesting savings into customer experience and benefiting from increased at-home dining trends, with overall sales growth forecasted to improve.
Kroger plans to close about 60 stores over the next 18 months following the collapse of its merger with Albertsons, aiming to improve long-term profitability. The company will offer affected employees positions at nearby stores and invest in enhancing customer experience at remaining locations. Despite store closures, Kroger's sales have increased due to consumer shifts towards home-cooked meals, price cuts, and growth in private label products, leading to a nearly 10% rise in its shares.