Placer.ai. Comparative sales at Walmart, Kroger, Albertsons and Ahold, which account for over 45% of U.S. grocery sales, are up but still well under the rate of price inflation, so effectively negative. Like much of the industry, their unit comps are even lower, meaning a recession is already here for the sector. This hasn’t stopped retail oligopolies from passing along billions in shareholder buybacks.
But comp’s are grocers’ holy grail. Once growth slows, maintaining profitability then becomes a matter of managing expenses, such as inventories and payroll. This could mean more out of stocks and layoffs. According to FMI,of grocers peaked in 2020 at 3.5% and 3.2% in 2021, a 30% jump over the 10 year average, but those days are gone. Profitability, a matter of churning successively more tonnage through the same 4 walls every year, will be an even tougher challenge for the foreseeable future.
I THOUGHT THEY COULD NOT SOLVE THEMSELVES?
You need to lower the price of diesel and corn to lower the price of food. Bidens brilliant idea of using more ethanol is just another mistake in a long line of mistakes that are starting to look like an intentional pattern.
Corporate greed.
The Fed & Treasury opened the door with BS transitory claims. We were supposed to learn something from the Carter administration, apparently the finance geniuses forgot them.
How does an increase in the money supply affect demand? How does demand affect prices? Who controls the money supply? The Fed isn't responsible for price inflation? Got it 🤔
But not their wages
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Source: MarketWatch - 🏆 3. / 97 Read more »