Kroger CEO Says Half of Its Customers Are Financially Strained by High Inflation
Kroger CEO Rodney McMullen said half the chain’s customers are under “a lot” of financial strain due to high inflation.
The retail chain has been working with its manufacturers on how they can work together to reduce costs as its customers remain under financial strain, said McMullen at a conference on Jan. 16, reported Fox Business.
“About half of our customers are under a lot of strain from a financial perspective … Their wages haven’t kept up with the inflation they’ve incurred,” said the CEO at a keynote session at “NRF 2023: Retail’s Big Show,” in New York City.
McMullen said that Kroger is planning on how to make things affordable and accessible for its struggling customers, as they reel from inflation, which he predicts will moderate or flatten toward the end of 2023….