Author: Charley Blaine / Source: Investing.com
Investing.com – Yes, Amazon.com apparently wants to start a supermarket chain. No, it isn’t going to put Kroger Co ., one of the largest supermarket chains, out of business.
A Wall Street Journal report that Amazon (NASDAQ:AMZN) was looking to start a new brand of supermarkets in some of the largest markets sent Kroger (NYSE:KR) shares down nearly 4.
5% on Friday. The shares still haven’t recovered.Kroger is set to report earnings before U.S. markets open Thursday. Analysts polled by Investing.com expect the company to report earnings of 52 cents a share in the fiscal fourth quarter, down from 63 cents a year ago with revenue of $28.5 billion, down 8.3%. The stock is up slightly in 2019 and was flat in 2018 after a 5% hit in the fourth quarter.
But Amazon isn’t Kroger’s biggest problem — yet. A huge problem, which has contributed to Kroger’s 35% stock price decline since 2015, is that big chains are stepping all over one another. And…
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