Kroger announces closure of 60 stores across U.S.
Grocery giant Kroger revealed during its first-quarter earnings call this month that it will shut down about 60 underperforming stores over the next 18 months. At the same time, the company intends to open new locations throughout this year and the next.
“We’re simplifying our business and reviewing areas that will not be meaningful to our future growth. Unfortunately, today, not all of our stores are delivering the sustainable results we need,” said Kroger Chairman and Interim CEO Ronald Sargent in the June 20 earnings call.
“We don’t take these decisions lightly, but this will make the company more efficient, and Kroger will offer roles in other stores to all associates currently employed at affected stores.”
The specific stores targeted for closure have not been officially confirmed.
Kroger is the parent company to King Soopers and City Market. King Soopers has 120 grocery stores in 37 cities in the state, while City Market has 32 grocery stores in 27 cities, according to their websites.