Total company sales were $30.5bn in the second quarter this year, compared to $28.2bn for the same period last year, according to the company's Q2 2020 earnings results. Excluding fuel, sales grew 13.9%.
“While the full economic impact of COVID-19 is not yet understood, our data shows that during the periods of lower economic activity, we see a structural shift from food consumed away from home to food consumed at home,” said McMullen during the company’s Q2 2020 earnings call.
“All of these factors combined lead us to believe there will be more meals eaten at home or prepared at home for the foreseeable future.”
According to McMullen, the company’s data insights show customers are “rediscovering their passion for cooking at home and have an aspiration to eat more healthy foods as a result of COVID,” he said.
With back-to-school season in full swing, at-home eating and cooking has taken center stage for many US households.
“When we talk to our customers they tell us they plan to continue to prepare and eat more meals at home. As children return to school many families are telling us they plan to make breakfast in the morning and prepare lunch for their children to take school,” said McMullen.
“This makes our leadership position in fresh an even more important sales driver for Kroger. Customers rank our fresh departments higher than all of our big box competitors and our fresh departments generated strong identical sales in the second quarter and gained market share,” shared McMullen.
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September 14, 2020 at 10:41PM
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Kroger sees at-home cooking and eating as predominant consumer behavior for foreseeable future - FoodNavigator-USA.com
"behavior" - Google News
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