Food prices tumble, but Kroger digs in. Kroger — parent to King
Soopers, Lucky’s Market and City Market — lowered its profit expectations for the year as it fights with other grocers for more of the customers’ dollar even as food prices fall.
The nation’s largest grocery chain has historically had leverage in the industry with suppliers because of its size, but now it’s competing with companies like Wal-Mart and Target as well. And even some of the largest retailers in the world are unable to lure more customers given the trend in food prices. Denver Post wire reports