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This Is Biden’s Soft Landing, and He Deserves Some Credit
(newrepublic.com)
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this post was submitted on 19 Nov 2023
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politics
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Revenue is not profit. You’re quoting revenue to make the situation look more extreme than it is. That number is not profit. You’re also cherrypicking a top performer instead of looking at industry trends. Publix, in my experience (only visit the south, don’t live there), is a higher end store.
Kroger lost money this quarter. Profit was negative.
It’s also not so straightforward for a number of reasons. Grocery consolidation is way up, so operating revenues go up because there are more stores in each brand’s portfolio. YOY growth is misleading, you should look at profit per store to get a better grasp on a trend. You’re also looking at an industry heavily impacted by the pandemic (certain chains like Walmart and Amazon saw more grocery growth during the pandemic for obvious reasons)