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Target and Kroger Deny Merger Rumors

Target and Kroger Deny Merger Rumors


CINCINNATI, OH & MINNEAPOLIS, MN
Friday, March 23rd, 2018

Rumors are aswirlin’ after Fast Company reported that Kroger and Target are considering a merger to face Amazon’s industry presence. However, sources are now shooting down the notion, according to Reuters.

Kristal Howard, Head of Corporate Communications and Media Relations, The Kroger Co.“We generally don’t comment on rumors or speculation,” said Kroger's Head of Corporate Communications and Media Kristal Howard, the latter news source reported.

After the former news source leaked its speculative news, which explained that the merger would be “the best path forward,” both companies saw a boost in shares. While gains were paired later, Kroger’s shares rose 8 percent, according to CNBC, which also reported that Target’s hiked fractionally, as well, in the premarket.

Kroger storefront

Target hired Jeff Burt, a former Kroger exec, last year, who took on the changes the retailer sought to make in its food options.

Neil Saunders, Managing Director and Retail Analyst, GlobalData Retail“We believe Target has much further to go before the grocery business is fully fixed,” said GlobalData Retail Managing Director Neil Saunder, as reported by CNBC.

This news comes in the wake of Albertsons and Rite Aid’s announcement that they would be merging, and is interesting in light of Amazon’s recent growing pains after its Whole Foods acquisition.

What do these changes and the speculation on Target and Kroger say about the changing retail landscape? Will we see more mergers to bolster business revenue? Deli Market News will keep you updated with the latest industry happenings!

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The Kroger Co. spans many states with store formats that include grocery and multi-department stores, convenience stores and mall jewelry stores. We operate under nearly two dozen banners, all of...

Minneapolis-based Target Corporation (NYSE: TGT) serves guests at 1,816 stores and at Target.com. Since 1946, Target has given 5 percent of its profit to communities, which today equals millions of...

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