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Kroger and Albertsons plan to sell an additional 166 stores to C&S Wholesale Grocers, bringing the total to 579 stores that would be sold to make way for their proposed merger.
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Albertsons (ACI) shares declined in intraday trading Monday as the supermarket chain and Kroger (KR) agreed to sell off more stores in order to get regulatory approval for Kroger's $24.6 billion acquisition of its rival.
Grocery chains Kroger and Albertsons now plan to sell more locations and assets. Albertsons also reported strong earnings for the fiscal fourth quarter.
Kroger and Albertsons Cos said on Monday that they have amended their definitive agreement with C&S Wholesale Grocers for the sale of assets in connection with their proposed merger.
Shares of Cincinnati-based grocery store giant Kroger Co (NYSE:KR) are 1% higher at $55.92, after landing a bull note from Wells Fargo.
Zacks.com users have recently been watching Kroger (KR) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
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Kroger beat analysts' earnings estimates in its quarterly financial report. Its forecast for 2024 was also better than investor expectations.