In the U.S.A., Kroger and Albertsons begin targeted store closures

On June 20, Kroger (2024 revenue: US$147 billion, up by 1.5% year-on-year via 2,731 stores) announced closure of 60 unprofitable stores in the U.S.A. by the end of 2026. After posting sales of US$45.1 billion (up by 3.7% on a comparable basis) for the first quarter ended May 2025, the closures will result in a US$100 million impairment charge (compared with US$20 million a year earlier). In doing so, Kroger aims to continue improving gross margin (23% in Q1 2025 vs. 22% a year earlier) in...