Why Kroger Stock Dropped Today
The Kroger Co. (NYSE: KR) stock took a tumble Thursday, falling 2.6% through 11:35 a.m. ET after Bloomberg reported that new CEO Greg Foran plans to implement "big price cuts" to better compete with rivals both public -- (NYSE: WMT), Costco Wholesale (Nasdaq: COST), and Amazon.com (Nasdaq: AMZN) -- and private -- Trader Joe's and Aldi.
In a shocking revelation, Foran pointed out that shoppers appear to prefer stores with lower prices rather than more expensive ones!
Image source: Getty Images.
Source Fool.com
Kroger Co. Stock
€50.08
-0.260%
The stock is an absolute favorite of our community with 28 Buy predictions and no Sell predictions.
As a result the target price of 67 € shows a positive potential of 33.79% compared to the current price of 50.08 € for Kroger Co..
