Re:The Smash and Grab of Kroger-Albertsons
by lupire on Thursday October 20, 2022 @08:30AM
(#33273630)
Kroger gross profit is up 10% last year, but was up 0% the year before.
Overall, the nominal growth over 10years is 60% ($18B to $30B), mostly due to a bull run around 2015, and overall rather modest compared to inflation.
https://www.macrotrends.net/stocks/charts/KR/kroger/gross-pr...
Over 50% of the rise in prices for groceries during the pandemic are from corporate profits. Raises in input costs (38%) and labor (7%) made up most of the rest. When the price raise is 50% increased profit during a time where a large fraction cannot afford enough to eat this is price gouging. It is extremely clear.
ref: https://www.salon.com/2022/10/19/katie-porter-pulls-out-char... , https://porter.house.gov/news/documentsingle.aspx?DocumentID...