It was a mixed bag in 2022, but overall, the stock prices of publicly traded food retailers outperformed the market.
Many grocery stocks started the year strong, but as inflation ramped up quickly in the first half of the year — and the economic outlook became gloomier amid rising interest rates and the fear of a possible recession — several companies’ stock prices faltered.
Take Kroger for instance. In a year that saw the Dow Jones Industrial Average fall 8.9%, the S&P 500 lose 19.4% and the NASDAQ tumble 33.1%, even a flat performance by Kroger Co. could be considered a win for investors, however.
Some analysts believe Kroger is well-positioned for the year ahead, however, given its strong private label offering, its focus on fresh foods, and its data analytics capabilities.
SN spoke with Scott Mushkin, founder and CEO of R5 Capital, about what the trend in grocery stocks means, and where it’s pointing us in 2023.
Take a listen.
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