Overview

• Kroger will shutter about 60 underperforming locations—roughly 5 percent of its network—over the next 18 months
• The closures carry a $100 million impairment charge and are expected to yield modest long-term financial benefits
• Employees at affected stores will be offered positions at nearby Kroger locations
• Consumers cutting back on dining out have driven Kroger to lift its full-year sales forecast and private-label products have outpaced national brands for seven quarters
• Kroger shares rose nearly 10 percent following its latest earnings report