Kroger Proves There's Life After Amazon/Whole Foods
Back in June, analysts were getting ready to write Kroger's(NYSE: KR) obituary. Shares of the supermarket giant fell 26% over a two-day span after the company first reported a dismal earnings report and then got whacked by news that Amazon.com (NASDAQ: AMZN) was buying Whole Foods Market.
The news sent shockwaves across the grocery industry, but Kroger, as the nation's largest traditional supermarket operator, seemed to have the most to lose given Amazon's reputation for cutthroat competition and slashing prices. However, Kroger's third-quarter earnings report shows the company is back on track, despite Amazon's implementing significant discounts when it took over Whole Foods back in August.
Image source: Getty Images.
Source: Fool.com
Kroger Co. Stock
€49.16
-0.810%
The stock is one of the favorites of our community with 24 Buy predictions and 1 Sell predictions.
As a result the target price of 55 € shows a slightly positive potential of 11.88% compared to the current price of 49.16 € for Kroger Co..
