So what was the profit margin after all the gouging?Kroger Executive Admits Company Gouged Prices Above Inflation
Kroger executive admits company gouged prices above inflation
Kroger's senior director for pricing Andy Groff said the grocery giant had raised prices for eggs and milk beyond inflation levels.www.newsweek.com
I'll admit I like her stance on economic issues, but having this be a taped interview stinks big time. Hopefully the debate will be live.
Pre covid years was around 2%, after gouging it peaked at 3.5% and stayed above 3 for quite some time. Keep in mind what the chart means and how it's adjusted. In my eyes, it's very possible they did gouge given the conditions, the intense loss many businesses endured, and how they rose nearly a year after covid began rapidly. I'm sure those 99 cent egg prices jumping to 3 or so dollars was a symptom of this too.
Not even suggesting one, just posting the data and showing it's likely given the circumstances that they gouged. Maybe the market should have shredded them and other large chains, and we should've gone back to smaller grocers which truly can compete. Maybe they should exploit us more whenever there's insert some problem that affects supply of a good. Holding them accountable when they are unethical matters.
How do we determine what exactly is price gouging if there isn't a "set standard" profit margin?
How is it unethical? They are a business in a free market.
You are correct, so long as everything is monopolized no one can compete and therefore free market economics do not apply… they can do wtf they want. Anyone who really doesn’t want government setting controls on price needs to be for breaking these companies all the way up, allowing for the free market to do its thing… it’s easy for the government to control the price of something when there are only a handful of people in the game…
Is it mustard base? Im an eastern nc barbecue conisiar. Despite being born in south GA,lived in NC about my entire life. SC uses mustard base. All about the apple cidar Vinegar and Red pepper for me.
It's an indicator to the claim given we saw so many businesses crash and burn during covid that did not rapidly raise their prices. I'm sure the drastic rise later than the initial lockdown was mostly to avoid legal penalties since we were out of the "emergency" territory then.
Both are necessities, so people need to purchase them. Taking advantage of people with something they need all while food companies shrink the size of their products is a malicious combo. Just because the market is "free" doesn't make it ethical. A free market means I could scalp everything and sell it for a high price, but it's unethical. Oil is the worst offender when gas prices jump 30 cents or so on the drop of a pin. We just live with these because we can't not eat, drive, or live without any of those. You could if you freeloaded a wooden hut you built yourself and used only fire for light maybe and hunted and gathered everything.
I guess they don't want people to have jobs. I honestly would have thought It would have been more than 3%.Some of you guys have a very poor understanding of economics. If a company makes 3% profit and you consider that a problem, then you obviously don't understand anything about business. I guess a business should try to earn a 0% profit. Wonder how much competition there would be if that was the mandate.
