During their latest earnings call, executives from Ohio based grocery retailer Kroger reaffirmed their belief that the current consumption trends they have been experiencing will continue for the remainder of this year. During the first half of the year, sales reached $72 billion which is up from $65 billion the prior year. Kroger CEO William McMullen said “Customers across the country are still staying home; and cooking at home that is now part of their new routine.” Executives also mentioned that while they are still seeing fewer in store customer visits overall, the average basket size has continued to increase.
Kroger is also seeing continued momentum in their digital sales, as they grew 127% during the second quarter. Lastly, the Company noted that their premium private branded products have also been beneficiaries of the eat-at-home trend. They are seeing more customers choose the more expensive, natural, and organic brands as health continues to be an important factor in consumers’ minds.
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