Long Beach Ralphs, Food 4 Less stores to close over $4 ‘hero pay’ boost for grocery workers
- Thread starter GURPS
- Start date
Ok here goes without the financials which YOU seem to be challenged with.
1. Do YOU honestly think that the Board of directors of Kroger haven't already thought about the PR. debacle that you gleefully say is unfolding ?
2. Do YOU honestly think that the board wouldn't push back when confronted with the outright theft of funds from their owners ? Owners also known as shareholders who are people saving for retirement, retired people living off of their stock holdings , funds entrusted with providing liquidity ( money) for their pension obligations , Mutual funds, ETFs and Hedge funds
3. Do YOU honestly think that the board didn't think about kowtowing and setting a precedent for the theft of shareholder funds. Which was NOT in their shareholders interest ?
In my opinion when faced with a B.S. attempt to tell a company to pony up more funds in their jurisdiction , the company made a well thought out corporate decision to close the marginally profitable stores . It's just a shame that the real cost will be to their former customers who will have to travel farther to shop . Bottom line is F**K the mayor.
As someone who has Kroger (KR) in at least one of his mutual funds, I want the stock to do as well as possible. If that means paying the CEO an annual salary of $21M based on his (and the stocks) performance, I'm good with that.
While I agree .... did you have 2.5 Billion in Profits last year .... you could probably afford the raise.
and again for the cheap seats in the back I am a capitalist Kroger can do as it pleases Piss on California ... my only observation is the Optics look bad when your profits for 2020 amounted to 2.5 Billion Dollars ... I think you could afford an extra $ 4 an hour for a few hundred employees.
Kroger Net Income 2010-2023 | KR
Kroger annual/quarterly net income history and growth rate from 2010 to 2023. Net income can be defined as company's net profit or loss after all revenues, income items, and expenses have been accounted for. <ul style='margin-top:10px;'> <li>Kroger net income for the quarter...
Kroger annual/quarterly net income history and growth rate from 2006 to 2021. Net income can be defined as company's net profit or loss after all revenues, income items, and expenses have been accounted for.
- Kroger net income for the quarter ending January 31, 2021 was $-0.077B, a 123.55% decline year-over-year.
- Kroger net income for the twelve months ending January 31, 2021 was $2.585B, a 55.82% increase year-over-year.
- Kroger annual net income for 2021 was $2.585B, a 55.82% increase from 2020.
- Kroger annual net income for 2020 was $1.659B, a 46.66% decline from 2019.
- Kroger annual net income for 2019 was $3.11B, a 63.08% increase from 2018.
For the discussion Kroger had a loss in the last quarter of 2020 with 123% Decline .... but over all it looks like a 55% increase in sales over all for 2020
Kroger employs about 435,000 as of 2020 down 3.97 %
PeoplesElbow
Well-Known Member
Just as an added piece of info in my hometown of 8000 people Kroger closed a 65000 sq ft store to open a new 110000 sq ft store to the tune of 18 million. Then closed down for a bit due to a Covid outbreak among employees.
black dog
Free America
While I agree .... did you have 2.5 Billion in Profits last year .... you could probably afford the raise.
and again for the cheap seats in the back I am a capitalist Kroger can do as it pleases Piss on California ... my only observation is the Optics look bad when your profits for 2020 amounted to 2.5 Billion Dollars ... I think you could afford an extra $ 4 an hour for a few hundred employees.
Kroger Net Income 2010-2023 | KR
Kroger annual/quarterly net income history and growth rate from 2010 to 2023. Net income can be defined as company's net profit or loss after all revenues, income items, and expenses have been accounted for. <ul style='margin-top:10px;'> <li>Kroger net income for the quarter...www.macrotrends.net
Kroger annual/quarterly net income history and growth rate from 2006 to 2021. Net income can be defined as company's net profit or loss after all revenues, income items, and expenses have been accounted for.
For the discussion Kroger had a loss in the last quarter of 2020 with 123% Decline .... but over all it looks like a 55% increase in sales over all for 2020
- Kroger net income for the quarter ending January 31, 2021 was $-0.077B, a 123.55% decline year-over-year.
- Kroger net income for the twelve months ending January 31, 2021 was $2.585B, a 55.82% increase year-over-year.
- Kroger annual net income for 2021 was $2.585B, a 55.82% increase from 2020.
- Kroger annual net income for 2020 was $1.659B, a 46.66% decline from 2019.
- Kroger annual net income for 2019 was $3.11B, a 63.08% increase from 2018.
Kroger employs about 435,000 as of 2020 down 3.97 %
Im quite sure its all relative to most businesses, adding 40% to your labor cost is a job/business killer .
I know this, years ago I met and had some very informed business conversations with Blackie Wills who took his fathers business, SMO from a few employees to 850+ -
One thing he taught me was never pay someone more money than you can hire someone else to do the same job. And that includes family.
black dog
Free America
Its interesting that a town that size provides enough money revenue to support a store that size.
What other stores sell food products there? Dollar General, Family Dollar, Dollar Tree?
That is one school of thought. Another one is you get what you pay for.
Hijinx
Well-Known Member
Every story has a good and a bad. This story is no different.
The bad is that the stores will close, and employees will be without jobs, but WTH they will sit home and collect unemployment
Now for the good. Kroger and other stores that have stores in really crappy neighborhoods where they lose a fortune to theft can close those stores and blame it on someone else,
The bad is that the stores will close, and employees will be without jobs, but WTH they will sit home and collect unemployment
Now for the good. Kroger and other stores that have stores in really crappy neighborhoods where they lose a fortune to theft can close those stores and blame it on someone else,
You know, I'm not even going past that sentence. I haven't been insulting or rude to you, even after you started out like a combative prick. So really - **** you. Wanna fight? Stick your head up your ass and fight for air because I'm done.
You wanted to get all pissy? I just showed you pissy, little boy.
Hijinx
Well-Known Member
I understand that McKays is going to open in the old Shoppers Food Warehouse. This after they closed on Great Mill Road.
Better neighborhood?
Do we know for sure that it's only stores in crappy neighborhoods that are closing?
Because that's a totally different discussion.
PeoplesElbow
Well-Known Member
There is a super walmart a mile away and a price cutter in downtown.
It is an affluent town and the hub of commerce for the area. It also has a nice indoor mall, a country club, a pete dye golf course and a very nice rec center with a couple pools indoor rock climbing and 6 youth baseball fields.
black dog
Free America
I know folks that make 3 to 10 times than they are worth. A turd can climb the ladder also.
One can polish a turd, but in the end its still a turd.
Capitol Hill is full of them.
Right, but public image has a lot to do with stock prices. We see that every day - some durhard CEO makes a stupid comment and WHOOP! Down goes the stock.
black dog
Free America
That explains it. Thanks
We all do. So what? The fact is still that you're more likely to attract quality employees if you pay them decently. I've had employers threaten me with the old, "I could get someone to replace you for less money," to which my reply is, "Great! Do it!" Because I'd go on to an employer who appreciates me and they'd be stuck with some $1.99 dumbshit - who wins that little skirmish?
Don't you, as a consumer, prefer dealing with someone who behaves professionally and efficiently? Because I will gladly pay a little extra to not have to deal with Queeftonia or Gnarlsbad in my daily excursions. Who do you want building your house - the professional construction worker or the band of misfits standing outside the 7-11? You're a welder - why should someone pay you instead of getting their cousin's stoner friend to do it for free?
Get my drift?
Maybe better rent.
PeoplesElbow
Well-Known Member
Forgot there is Aldi, Dollar General Dollar Tree and Target also sells food.
The household income in southern MD is higher, but not by much.
Yep , didn't think think that you would be either capable or willing to make a reasonable response. But hey that's to be expected..