Kroger executive admits company gouged prices above inflation

Bigdog said:
Good for you. Because their profit margins are massive at around 30%!!!

Especially compared to the grocery businesses' 1.5% - 3% in a good year.
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Anyone should know by now that corporations have a lot of ways to pretend they are squeaking by. Through mergers and acquisitions, the grocery market has become an oligarchy. Few companies control it . So they can eliminate competition and set prices. They are not trying to deliver quality , service and pricing. They are maximizing profits and making the owners and management very wealthy. American business is eliminating competition resulting in higher prices, less service and less innovation.
 
Nordberg said:
Anyone should know by now that corporations have a lot of ways to pretend they are squeaking by. Through mergers and acquisitions, the grocery market has become an oligarchy. Few companies control it . So they can eliminate competition and set prices. They are not trying to deliver quality , service and pricing. They are maximizing profits and making the owners and management very wealthy. American business is eliminating competition resulting in higher prices, less service and less innovation.
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You want all the food supply to be owned by and controlled by the gov't. So you come up with this White lib nonsense about price collusion.

Now, did the white libs shut down and lock up all small business owners during Covid, .... yes. Did they allow the big box stores to stay open? yes. ... Did the white libs force everyone to buy online? yes.

Did the white libs object when google, amazon and facebook bought up all their competiotion? NO.

:barf:
 
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Bigdog said:
You want all the food supply to be owned by and controlled by the gov't. So you come up with this White lib nonsense about price collusion.

Now, did the white libs shut down and lock up all small business owners during Covid, .... yes. Did they allow the big box stores to stay open? yes. ... Did the white libs force everyone to buy online? yes.

Did the white libs object when google, amazon and facebook bought up all their competiotion? NO.

:barf:
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Is that what you thought I was saying? You are seriously stupid. They have ELIMINATED COMPETITION. I said they formed an oligopoly. They control prices like many industries in America. https://goodjobsfirst.org/conspiring-against-competition/
 
signalmankenneth said:
View attachment 30897
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We shop at Central Market , Tom Thumb and Kroger . Kroger constantly has the lowest prices . In particular their eggs and milk are cheaper. I prefer the fruit and vegetables at Central Market but they are also more expensive. My wife is vegetarian and Tom Thumb carries some items that the others do not.

When speaking to Bloomberg, a Kroger spokesperson said that Groff's comment was "cherry-picked" and"does not reflect Kroger's decades long business model to lower prices for customers by reducing its margins."
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My brother lives in a small town with one Brookshire brothers grocery store. He stocks up at Krogers when he comes to town because Krogers is cheaper.

Food prices would be 20% less if Biden had not caused inflation.
 
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Tbird19482 said:
can't find the post where Exxon poster those record profits but here is on showing they profits over the last few years

Exxon Gross Profit 2010-2024 | XOM

Exxon annual/quarterly gross profit history and growth rate from 2010 to 2024. Gross profit can be defined as the profit a company makes after deducting the variable costs directly associated with making and selling its products or providing its services. <ul...
www.macrotrends.net www.macrotrends.net



[th]
Exxon Quarterly Gross Profit
(Millions of US $)

[/th]
[td]
2024-06-30

[/td]
[td]
$22,478

[/td]
[td]
2024-03-31

[/td]
[td]
$20,068

[/td]
[td]
2023-12-31

[/td]
[td]
$21,584

[/td]
[td]
2023-09-30

[/td]
[td]
$21,276

[/td]
[td]
2023-06-30

[/td]
[td]
$18,893

[/td]
[td]
2023-03-31

[/td]
[td]
$23,904

[/td]
[td]
2022-12-31

[/td]
[td]
$27,393

[/td]
[td]
2022-09-30

[/td]
[td]
$33,969

[/td]
[td]
2022-06-30

[/td]
[td]
$32,514

[/td]
[td]
2022-03-31

[/td]
[td]
$20,317

[/td]
[td]
2021-12-31

[/td]
[td]
$20,749

[/td]
[td]
2021-09-30

[/td]
[td]
$17,433

[/td]
[td]
2021-06-30

[/td]
[td]
$14,196

[/td]
[td]
2021-03-31

[/td]
[td]
$11,824

[/td]
[td]
2020-12-31

[/td]
[td]
$7,715

[/td]
[td]
2020-09-30

[/td]
[td]
$7,794

[/td]
[td]
2020-06-30

[/td]
[td]
$6,487

[/td]
[td]
2020-03-31

[/td]
[td]
$8,946

[/td]
[td]
2019-12-31

[/td]
[td]
$15,150

[/td]​



[th]
Exxon Annual Gross Profit
(Millions of US $)

[/th]
[td]
2023

[/td]
[td]
$85,657

[/td]
[td]
2022

[/td]
[td]
$114,193

[/td]
[td]
2021

[/td]
[td]
$64,202

[/td]
[td]
2020

[/td]
[td]
$30,942

[/td]
[td]
2019

[/td]
[td]
$53,786

[/td]
[td]
2018

[/td]
[td]
$64,695

[/td]
[td]
2017

[/td]
[td]
$53,352

[/td]
[td]
2016

[/td]
[td]
$44,475

[/td]
[td]
2015

[/td]
[td]
$53,349

[/td]
[td]
2014

[/td]
[td]
$83,480

[/td]
[td]
2013

[/td]
[td]
$89,755

[/td]
[td]
2012

[/td]
[td]
$110,658

[/td]
[td]
2011

[/td]
[td]
$106,151

[/td]
[td]
2010

[/td]
[td]
$84,805

[/td]
[td]
2009

[/td]
[td]
$63,998

[/td]​



42.5 Billion in 6 month of this year , on the sale of how many gallons of gas?
either way these record profits year over year have to be looked into it see if it is gouging or not and if it is Congress should do something about it.
Have a nice day
don't know why it printed this way but if you go to the link you can get the info.
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Exxon does not set the price of oil. Oil is sold at the world price. Right now world production is about the same as world consumption and that makes prices go up. That is one of the reasons Biden ignored the embargo on Iranian oil. He did it to lower the world's price of oil.

The price of oil is set on futures markets, which means that market speculation about future events can impact the price.
 
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Nordberg said:
Is that what you thought I was saying? You are seriously stupid. They have ELIMINATED COMPETITION. I said they formed an oligopoly. They control prices like many industries in America. https://goodjobsfirst.org/conspiring-against-competition/
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I can buy most products online from a variety of companies. You are nutz! Near me, I have Weis, Giant, Walmart, Target, etc.. Democrats have done everything they can to destroy small business brick & mortar competition. Now democrats want to "price fix" which will cause more problems. Idiocy. :palm:

Harris's goal is the same as yours ... SHE wants all the food supply to be owned by and controlled by the gov't.
 
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NakedHunterBiden said:
local12.com

Kroger executive admits company gouged prices higher than inflation levels

According to the executive, Kroger intends to 'pass through our inflation to consumers.'
local12.com local12.com
CINCINNATI (WKRC) - A Kroger executive admitted to gouging prices on select items above inflation levels during an antitrust trial.

According to Newsweek,Andy Groff, Kroger's senior director for pricing, said the company had raised the cost of milk and eggs beyond the levels of inflation while testifying to a Federal Trade Commission attorney on Tuesday.
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do you think price fixing is the solution here?

if you do you're extremely stupid.
 
Bigdog said:
I can buy most products online from a variety of companies. You are nutz! Near me, I have Weis, Giant, Walmart, Target, etc.. Democrats have done everything they can to destroy small business brick & mortar competition. Now democrats want to "price fix" which will cause more problems. Idiocy. :palm:

Harris's goal is the same as yours ... SHE wants all the food supply to be owned by and controlled by the gov't.....
Click to expand...
or preferred corporations.
 
Nordberg said:
Anyone should know by now that corporations have a lot of ways to pretend they are squeaking by. Through mergers and acquisitions, the grocery market has become an oligarchy. Few companies control it . So they can eliminate competition and set prices. They are not trying to deliver quality , service and pricing. They are maximizing profits and making the owners and management very wealthy. American business is eliminating competition resulting in higher prices, less service and less innovation.
Click to expand...
but do you still recommend wallstreet funds as part of everyone's retirement?
 
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