Kroger announced it plans to close 60 underperforming stores in the next 18 months, representing about 2.2% of the company's footprint of 2,700 locations.
Kroger did not say where these locations would be. Company leaders said Kroger had delayed closing these underperforming locations as it attempted a merger with fellow grocery giant Albertsons.
Kroger and Albertsons gave up on the merger in late 2024 after the Federal Trade Commission and various state attorneys general fought against the merger in federal court. They claimed that the merger would have stifled competition and led to higher prices, a claim Kroger and Albertsons leaders denied.
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As it plans to close 60 locations, Kroger also announced that 30 new stores would open this year.
Kroger said employees at closing locations would be offered jobs elsewhere in the company.
"There is a modest financial benefit to closing these stores. However, we intend to reinvest the efficiencies back into the customer experience," said Kroger Chief Financial Officer David Kennerley.
Kroger has seen its stock value surge in the last year, as it has risen 48% since this time in 2024.
