Overview

• Kroger announced on June 20 that it will shutter about 60 underperforming stores nationwide over the next 18 months as part of its annual location review.
• The retailer took a $100 million impairment charge on the planned closures but expects a modest financial benefit without altering its full-year guidance.
• All associates at affected stores will be offered positions at nearby Kroger locations while the company continues price cuts on 2,000 products and boosts private-label promotions.
• Local media have reported upcoming closures in markets including Georgia, Texas, West Virginia and Wisconsin, but Kroger has not released an official list of sites.
• Interim CEO Ron Sargent said the decision follows the abandoned Albertsons merger and a leadership transition as Kroger refocuses on efficiency and customer experience.