Quite some good details here.
It took three years, but Restock Kroger is finally proving its worth.
The grocery chain reported first-quarter revenue of $40.55 billion, exceeding analyst expectations of $41.92 billion. What’s more, operating profit hit $1.3 billion up from $901 million a year earlier.
This profit growth is likely due to the investments Kroger has made to build out a back-end digital platform. The thesis behind Restock Kroger, which was first announced in 2017, was to build an Amazon-style flywheel that incorporated both online and digital businesses. “We’ve moved aggressively because the future is now. It has to be simple and seamless no matter what we’re talking about: in-store, pickup, delivery,” said Kroger’s vp of digital Matt Thompson to Digiday in 2019. Meanwhile, the company has also been growing its partnership with the UK-based automated warehouse company Ocado..... " ... '
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