Kroger reports spikes in sales, profits in crisis-ravaged 2020

Kroger reports spikes in sales, profits in crisis-ravaged 2020
Kroger reported a more than 8-percent sales spike in 2020, a year that saw shoppers bulk buy and hunker down amid a global health emergency.

(WAVE) - Kroger reported a more than 8-percent sales spike in 2020, a year that saw shoppers bulk buy and hunker down amid a global health emergency.

America’s largest grocer on Thursday reported an 8.4-percent increase to $132.5 billion in sales, as well as a 5.6-percent boost in profit at $2.6 billion, according to a report in Thursday’s Cincinnati Enquirer.

“We finished fiscal year 2020 with strong sales and earnings, as heightened demand for fresh, convenient food and meal solutions across modalities, including in store, pick up and home delivery, continued,” CEO Rodney McMullen said in a statement cited in the Enquirer report.

The earnings announcements weren’t entirely rosy. Kroger reported a fiscal fourth-quarter loss of $77 million, according to the Associated Press.

Kroger operates approximately 2,800 grocery stores in more than 30 states, including more than 100 locations in Kentucky.

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