What Does Kroger Know About Fashion?
Kroger (NYSE: KR) is the country's largest traditional supermarket chain with around 2,800 stores in 35 states, but under intense pressure from rivals both off and online, it now thinks adding clothing racks to its stores will help boost sales and profits.
Although other retailers have moved beyond their core offerings in a misguided attempt to draw customers into their stores, Kroger's decision to become a fashion retailer is particularly wrongheaded as it diminishes and devalues its brand.
Image source: Getty Images.
Source: Fool.com
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