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BUSINESS
October 22, 2005 | From Times Staff and Wire Reports
Albertsons Inc. has received a preliminary takeover bid from larger grocery store rival Kroger Co., while its drugstore unit has attracted bids from three pharmacy chains, sources familiar with the situation told Reuters on Friday. Albertsons put itself up for sale in September after struggling against competition from discounters such as Wal-Mart Stores Inc.
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BUSINESS
September 27, 2005 | From Bloomberg News
Ralphs parent Kroger Co. said warehouse workers in Southern California ratified a new five-year contract. The agreement covers about 3,200 workers represented by the International Brotherhood of Teamsters, the Cincinnati-based grocer said in a statement. The contract covers warehouse staff and truck drivers who deliver food and other goods to Kroger's Ralphs and Food 4 Less supermarkets in Southern California, a spokesman said.
BUSINESS
September 14, 2005 | From Associated Press
Kroger Co., the nation's largest traditional grocery chain, said Tuesday that its fiscal second-quarter profit rose 38%, boosted by a rebound in Southern California stores after a costly four-month strike that ended last year. For the quarter ended Aug. 13, Kroger reported earnings of $196.5 million, or 27 cents a share, compared with $142.4 million, or 19 cents, a year earlier. Sales rose 6.8% to $13.9 billion.
BUSINESS
March 9, 2005 | Melinda Fulmer, Times Staff Writer
Kroger Co., the nation's largest grocer, said Tuesday that its fiscal fourth-quarter loss widened as it wrote down the value of its Ralphs and Food 4 Less chains, which continued to struggle in the wake of last year's California strike and lockout. The company offered deep discounts to lure shoppers back to Ralphs, and that hurt profit margins.
BUSINESS
December 8, 2004 | Melinda Fulmer, Times Staff Writer
Kroger Co., the nation's largest grocer, said its third-quarter profit jumped 29%, but the results fell short of analysts' expectations as it continued to trim prices to compete with discounters and grocery rivals. Cincinnati-based Kroger, which operates Ralphs and Food 4 Less stores in Southern California, said it earned $142.7 million, or 19 cents a share, for the quarter ended Nov. 6, up from $110.2 million, or 15 cents, a year earlier.
BUSINESS
October 14, 2004 | From Associated Press
Kroger Co., still feeling the effects of a lengthy labor dispute in California, faces a possible walkout as 8,500 supermarket employees in three other states began voting on a contract offer that the union recommends they reject. Union leaders also asked members for a strike authorization. The contract, which expires at 7 p.m.
BUSINESS
September 15, 2004 | Melinda Fulmer, Times Staff Writer
Kroger Co., the nation's largest grocery chain, posted a 25% drop in second-quarter profit and warned that it might not meet its yearly sales target as it struggled to regain business lost during Southern California's grocery strike. The Cincinnati-based chain's earnings performance fell short of analysts' expectations, sending the company's shares down 4.3% for the day, closing at $15.98, off 72 cents, on the New York Stock Exchange. Kroger's shares have fallen 14% this year.
BUSINESS
June 23, 2004 | James F. Peltz, Times Staff Writer
Kroger Co., citing the final effect of the 4 1/2-month California labor dispute on its Ralphs grocery chain, Tuesday said its fiscal first-quarter profit tumbled 25% from a year earlier. The dispute erased $71.6 million of Kroger's net income -- equal to 10 cents a share -- in the 16-week quarter ended May 22, Kroger said. That was the main reason the Cincinnati-based company's overall profit fell to $262.8 million, or 35 cents a share, from $351.5 million, or 46 cents a share, a year earlier.
BUSINESS
April 20, 2004 | James F. Peltz, Times Staff Writer
The owner of the Ralphs grocery chain has set aside $116 million to compensate two rivals under a controversial mutual-aid pact the trio devised in anticipation of the California supermarket strike and lockout, regulatory filings show. Kroger Co.'s payout to Safeway Inc. and Albertsons Inc. will probably be between $72 million and $75 million after taxes, analyst Andrew Wolf of BB&T Capital Markets said Monday.
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