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Yes, ol' Joe proclaimed that grocery stores were unfairly profiting the last 2 years, and so HIS "regulators" and his 33 year old Americanized non-economics grad FTC Chairman that checks an identity box will surely make grand proclamations, to the exultation of the NYT and WaPo and I guess LATimes (if Albertson's is big on the West Coast).
Sometimes it is the law which is imposed. Not everything is a 'politically inspired witch hunt'.
I think it is Randall,not Albertson/
Kroger also bought HARRIS TEETER,a nice Southern grocery store.
Albertsons was purchased by Cerebus in 2006, ending what was known as the original company. In 2015, Albertsons purchased Vons which included Safeway.
Some other store banners under Albertsons/Cerebus:
Tom Thumb
Jewel-Osco
Acme
Pavilions
Show’s
Randall’s
United Supermarkets
Lucky’s
Haggen
Star Market
This along with other companies.
Myself, I’m not thinking FTC will allow the Kroger-Albertsons deal to come to fruition.
Albertsons was purchased by Cerebus in 2006, ending what was known as the original company. In 2015, Albertsons purchased Vons which included Safeway.
Myself, I’m not thinking FTC will allow the Kroger-Albertsons deal to come to fruition.
Walmart will still be bigger in terms of grocery sales than the new combined company. That is the argument they will use. They will sell a number of stores
Another way to corner the grocery market. Wonder if their prices will increase.
I only buy the specials at our local badly managed Kroger. I’m there just long enough to get milk for less than 3 bucks a gallon and chicken breast cheap. Then checked out by kids eating Skittles and talking to each other while ignoring the customers.
I am grateful for HEB, Texans favorite grocery store.
Is this purchase really worth it? Krogers will likely have to close a number of Albertsons that are too close to another Krogers, or close that Kroger brand. I guess it depends on which store is nicer, newer.
It seems like this is just a way to help out the major shareholders or the top management. I am sure the Board of Directors have lots of crossover too.
It gives the company better prices from its suppliers.
I've never heard of Albertson's, so they're obviously not in my area.
We don't have any Kroger's anymore, because they bought the preferred mid-level regional grocer (and use that company's brand) and closed their Kroger's in the region.
So how does this affect Publix (SE), Wegman's (NE), HB (Texas?), and whoever is in California? Or the other regional grocers all throughout the country?
People getting hooked on Amazon or Wal-Mart for the majority of their "grocery" expenses is a far greater threat to competition and thus pricing than some actual grocery store that consolidates and changes names.
H.E.B. Is a Family owned Supermarket that is not publicly traded on the Stock Exchange in Texas.
Albertsons, previously owned by an investment group led by private equity firm Cerberus Capital Management, went public in June 2020 following an initial public offering. Cerberus still holds an approximately 29% stake in the grocer retailer. Cerberus is probably pushing this merger - they want thrir money back.
Quote:
Originally Posted by NJ Brazen_3133
Is this purchase really worth it? Krogers will likely have to close a number of Albertsons that are too close to another Krogers, or close that Kroger brand. I guess it depends on which store is nicer, newer.
It seems like this is just a way to help out the major shareholders or the top management. I am sure the Board of Directors have lots of crossover too.
Years ago, Albertsons (then called Skaggs-Albertsons) bought out out local high quality Tom Thumb Grocery stores ((North Texas). They closed some stores and the quality of all of them dropped. Currently we have some Albertsons, some Tom Thumbs, many Krogers. I shop all 3 because I can’t get what I want at any one of them. I’m not thrilled about this Merger. Kroger is eliminating many items in favor of their branded item.
Store service is not so great.
On the Up-Side —- I do think it’s an opportunity for H.E.B. to move into my area. IF that happens, they will get all my business.
Location: New Albany, Indiana (Greater Louisville)
11,974 posts, read 25,473,841 times
Reputation: 12187
Quote:
Originally Posted by Hesychios
Kroger to buy Albertsons
A good example of the kind of thing encouraged by 'trickle-down' economics.
Concentration of wealth ... job losses, wage stagnation.
Service work wages today are massively higher compared to just 5 years ago, probably towards 2X more and in low / mid COL areas basically a living wage. At first only well run companies paid good wages but now everyone has to or all their workers will leave. The bulk of inflation today is due to entry level workers making so much more than before. Inflation was also bad in the 1970s, the last time people with HS or less education could make a decent living.
But how does one behemoth grocer buying another behemoth grocer which also includes Safeway and Vons good for the consumer? prices of groceries are already through the roof.
Retail groceries work on a very tight margin. Walmart is everywhere. If Kroger raises prices they will lose customers. It all works out without government regulators.
When I lived in Tucson Fry's (AKA Kroger) their weekly specials were great and you would get fuel points. I would go to walmart for the things that were cheaper there.
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