Kroger

[Guest]

Kroger’s one-upping Pfizer by floating the potential sale of its convenience store business. You may know Kroger as the country’s largest grocery chain, but it also operates almost 800 convenience stores under various brand names—Turkey Hill Minit Markets, QuickStop, and our go-to for a late-night beef jerky run, Loaf ‘N Jug. 

And those jerky runs have served the grocer well. The stores account for nearly $4 billionof Kroger’s $115 billion in revenue, with consistent same-store sales growth the last four years. 

But Kroger is looking to revamp after losing more than a third of its market value this year (you might have heard that Amazon acquired Whole Foods). That means freeing up $4 billion in cash over the next three years and focusing on e-commerce.

Investors appeared hungry for the deal, sending shares up 6% (about $1 billion in market value) on the news.

https://www.morningbrew.com/stories/kroger/