Kroger plans to lean on private-label products to keep prices down for consumers.Shutterstock
Kroger CEO Greg Foran's agenda is becoming clear: He wants lower prices, even if it means ending relationships with longtime suppliers.
Kroger confirmed that three Marketplace stores ran out of Boar's Head deli products and have not restocked them. Some say the producer's prices caused the pull out, but Kroger has not confirmed this. Still, Foran plans to lean on private-label products to keep prices down for consumers.
Foran discussed the struggling shopper during the grocer's earnings call Friday and stressed the importance of slashing prices. The CEO announced his intention to help household budgets in May when he said the company was working on a plan to cut prices on thousands of items.
Foran said the company will test price reductions before rolling them out more broadly and phasing them into stores.
To cut costs, Kroger plans to reduce internal expenses, which includes importing merchandise directly and using technology more effectively.
However, government inspectors found last week that Kroger has been overcharging customers at more than one-in-three stores examined across ...