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Thursday, October 29, 2020

Restock Kroger Proves it Worth in Pandemic

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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