CINCINNATI — A massive goodwill charge at the Ralphs banner, aggressive price investments and lingering deflation helped drive Kroger Co.'s third-quarter profits off a cliff.
“Based solely on our tonnage, we had a solid quarter,” David B. Dillon, chairman and chief executive officer, told industry analysts during a conference call last week in an effort to put a positive spin on the results. Tonnage was up more than 8.5%, he noted.
The loss for the quarter, which ended Nov. 7, was $874.9 ...
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