Kroger has said it may end up adding a few net new stores to its network this year, reversing years of downsizing. In comments made at a conference, CFO J. Michael Schlotman noted: “Depending on how many stores we wind up closing this year from an operational standpoint, we could have chance to wind up with a little increase in our store count this year for the first time in a while”.
Schlotman noted that Kroger had been shutting down unprofitable outlets over the past few years, but added that those moves have largely been completed. This should result in an overall increase in store numbers, as it continues to open new stores.
Later, CEO David Dillon said the group expects to post higher numbers than in 2011, reiterating comments made when it unveiled its first-quarter results earlier this year. He said the growth would be boosted by an improving US economy and the success of the group’s ‘Customer 1st’ strategy.
NamNews - Friday 22nd June 2012