The Kroger Co., Cincinnati, said sales of its private label brands increased in the first quarter as consumers tried to cope with rising gasoline and food prices.
“We did see solid growth in Kroger corporate brand share in the first quarter,” said David Dillon, Kroger's chief executive during a conference call with analysts.
According to Kroger, analysts for the retailer have been watching throughout the past year to see whether consumers would switch more of their purchases to lower-priced private label brands as food companies try to offset soaring prices for commodities such as wheat and energy.
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