Private label propels Kroger Co. in Q2

In Q2 2022 Kroger Co. recorded profits of $731 million--an increase of 56% from last year. The big driver? Sales from the company's private label brands.

Kroger Co. said it saw consumers manage rising inflation by transitioning to its private label brands. According to management at the country’s largest pure-play grocer, identical sales growth, which measures exactly what it sounds like, increased over 10% compared to last year. “What we always find is customers do it initially to save a little bit of m…