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Kroger Reported More Profits and Stronger Sales

Kroger, one of the biggest grocery chains in the country has recently surpassed competitors such as Safeway Inc. and Supervalu Inc.. They did so by offering more value and offering a rewards program that targets cost-conscious shoppers. Just 2 months ago, Kroger closed its acquisition of another grocery chain Harris Teether Supermarkets for $2.44 billion. This move brought Kroger into more markets in the southeast giving them access to many more high end supermarkets.

In the last period, they showed a profit of $422 million, which is down from $462 million last year. However, last year's quarter included one more week of sales which influenced the number. Same store sales went up 4%.