Supermarket strike tanks Kroger earnings
Kroger Co., the top U.S. grocer, on Tuesday reported a much sharper-than-expected drop in quarterly profit, hurt by a protracted Southern California labor strike.
Kroger said it could not determine when the labor disputes would be resolved, and estimated that they cut 12 cents per share off earnings in the latest quarter.
Albertsons reported last week that their earnings were way down, also due to the strike. On Tuesday in L.A. the leadership of all locals in IFCW will meet in Los Angeles at the Century Plaza Hotel to discuss strategy. There will be a march at noon, which is expected to draw 10,000 people, from the hotel to an Albertsons.
ANSWER LA continues to have a food and toy drive for the strikers. Call 213-487-2368 for drop off locations. An IFCW official told me last night they are stunned, amazed, and cheered at the wide support they are getting for the strikers.