October 13, 2003 |
Shoppers in Southern California arrived at their local supermarkets Sunday to buy groceries, only to find turmoil as thousands of union workers picketed the region's three largest chains. The first supermarket strike in Southern California in 25 years started late Saturday night as members of the United Food and Commercial Workers walked off the job at Safeway Inc.'s Vons and Pavilions stores. By early Sunday, employees at Albertsons Inc. outlets and Kroger Co.'
October 6, 2003 |
Facing a midnight expiration of their labor contract, negotiators for the major supermarket chains in Southern California and unions representing about 70,000 workers said late Sunday that they remained far apart on wages and benefits. Union leaders warned that a regionwide strike could start as early as Saturday.
September 17, 2003 |
Supermarket giant Kroger Co. said its second-quarter earnings dropped 28% from a year earlier, hurt by competition from discount grocers and last month's blackout. It also lowered its earnings outlook for the full year. Kroger, which operates Ralphs and other supermarkets, earned $190.4 million, or 25 cents a share, in the three months ended Aug. 16, compared with $264 million, or 33 cents a share, a year earlier. Kroger's shares fell 85 cents to $17.80 on the New York Stock Exchange.
July 4, 2003 |
Dynegy Inc. agreed to cancel two disputed energy supply contracts and restructure two others that were signed by grocery giant Kroger Co. during California's energy crisis, according to a settlement announced Thursday. Under the agreement, Kroger will pay Houston-based Dynegy $110 million in return for nullifying two contracts and reducing the prices in the others.
March 12, 2003 |
Federal utility regulators have ordered hearings into whether energy suppliers overcharged the city of Burbank and the Kroger Co. supermarket operator for long-term electricity contracts signed during the energy crisis. But first, Burbank and Kroger must hold settlement talks with the power sellers, the Federal Energy Regulatory Commission said in an order issued Monday. Burbank's complaint seeks to lower the price of contracts signed with subsidiaries of Calpine Corp.
March 12, 2003 |
Kroger Co. said fourth-quarter earnings rose 8.7% after the largest U.S. grocery chain and owner of Ralphs reduced costs. Net income in the quarter ended Feb. 1 rose to $381 million, or 50 cents a share, from $350.4 million, or 43 cents, in the year-ago quarter when the company had $31.7 million in restructuring expenses. Sales rose 2.8% to $12.5 billion, Kroger said. Profit for 2003, excluding certain expenses, will be in line with Kroger's December forecast of $1.65 a share, the company said.
CALIFORNIA | LOCAL
January 18, 2003 |
California officials filed a lawsuit Friday against five grocery store companies, alleging that the grocers failed to properly warn consumers that the fresh and frozen fish they sell exposes consumers to mercury, a chemical known to cause cancer and reproductive harm. The state attorney general's lawsuit seeks to force the grocers to post warnings about mercury in tuna, shark and swordfish. The complaint names Kroger Co.
December 11, 2002 |
Kroger Co., the largest U.S. supermarket company and owner of the Ralphs chain, reduced its sales and profit forecast for next year as competition increases from discount retailers such as Wal-Mart Stores Inc. and consumer spending slows. Profit next year before certain costs is expected to be equal to this year's. Sales growth in stores open at least a year will be less than 2%. Fiscal third-quarter net income rose by almost two-thirds to $254.6 million, or 33 cents a share, compared with $156.
September 18, 2002 |
Kroger Co. said annual earnings would fall short of its forecast as the largest U.S. supermarket chain lowers prices to compete with discount retailer Wal-Mart Stores Inc. Earnings per share this year will increase 5% to 7%, less than a previous estimate of as much as 12%, the owner of Kroger, Fred Meyer and Ralphs stores said. Second-quarter net income was $264 million, or 33 cents a share, compared with $255.7 million, or 31 cents, a year earlier. Sales rose 3.8% to $11.9 billion.