Kroger Selling Its Convenience Stores? What It Means for Investors
At a recent investor day, Kroger (NYSE: KR) announced it was exploring a potential sale of its convenience store business. You might not have known Kroger was in this business, but in its long history of acquisitions, many buyout targets kept their names. That's not only true for the convenience stores but even Kroger's core grocery business with brands like Ralph's, Harris Teeter, and King Soopers, among others.
Kroger shareholders have been under heavy pressure due to price wars in the grocery industry, compounded by the looming threat of a rejuvenated Whole Foods following its acquisition by Amazon. Is the potential sale of convenience stores an act of desperation or just prudent capital allocation?
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Source: Fool.com
Kroger Co. Stock
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