Kroger is facing mounting pressure from shifting customer habits, causing it to lose $12 billion as competition intensifies. In recent months, the grocery chain, which operates regional supermarkets such as Ralphs, Fred Meyer, and Smith's, has grown laser–focused on attracting and retaining price-conscious customers by offering more value and lower prices in its stores. For example, it began offering extra savings on gas in March and refreshed its loyalty rewards program to include more simplified offers. In May, Kroger CEO Greg Foran confirmed plans to cut prices on thousands of items in its stores, a move that takes on Walmart, Costco, and other retailers emphasizing lower prices.
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