Overview

• Kroger plans to shutter about 60 stores over the next 18 months, taking a $100 million impairment charge while targeting a modest long-term financial benefit.
• All associates at the closing locations will be offered transfers to other Kroger stores as part of the workforce realignment.
• The move follows the March exit of former CEO Rodney McMullen and the collapse of its proposed $25 billion Albertsons merger under regulatory scrutiny.
• To meet cautious consumer demand, Kroger has cut prices on over 2,000 items and will introduce 80 new protein-rich products while reinvesting savings into customer experience.
• Local outlets have identified shuttering sites in states such as Texas, West Virginia, Georgia, Kentucky and Milwaukee County as part of the targeted downsizing.