Kroger Says Labor Strikes Caused Millions Of Dollars In Losses
By: Import User
Updated: January 7, 2009
The Kroger Company says labor strikes in
recent months cost it millions of dollars.
The supermarket chain lost more than 337 million dollars in
the fourth quarter that ended January 31st. That included the
effect of the major Los Angeles-area strike that ended last month
and a West Virginia strike that ended in mid-December.
Kroger has numerous grocery stores in Arkansas. Supercenters and
Neighborhood Market stores by Bentonville-based Wal-Mart are a
major competitor.
Kroger says it expects earnings this year to be lower than last
year, but has not yet said how much lower they will be.
The nationwide grocer says it`s too early to know the full cost
of the southern California strike or what it will cost to rebuild
its business.
