Teknevra@lemmy.world to News@lemmy.worldEnglish · 3 days agoZohran Mamdani is pushing for New York City-run grocery stores. Here's what he envisions.www.cbsnews.comexternal-linkmessage-square67fedilinkarrow-up1585arrow-down16
arrow-up1579arrow-down1external-linkZohran Mamdani is pushing for New York City-run grocery stores. Here's what he envisions.www.cbsnews.comTeknevra@lemmy.world to News@lemmy.worldEnglish · 3 days agomessage-square67fedilink
minus-squareBombOmOm@lemmy.worldlinkfedilinkEnglisharrow-up12arrow-down5·edit-23 days agoKroger’s revenue is $150B, with a net income of $2.3B. That is a profit margin of…1.5%. One-point-five percent profit. As I said, grocery stores operate on tiny margins. There isn’t much to cut either for the private store or the government store. gross margin in 2024 was 22.3% Gross margin is not profit, it only accounts for direct costs of the goods being sold. Hence why their profit is only 1.5%.
minus-squarecoreray00@discuss.onlinelinkfedilinkEnglisharrow-up15·3 days agoWhat about the $7.5 billion stock buyback program?
Kroger’s revenue is $150B, with a net income of $2.3B. That is a profit margin of…1.5%. One-point-five percent profit.
As I said, grocery stores operate on tiny margins. There isn’t much to cut either for the private store or the government store.
Gross margin is not profit, it only accounts for direct costs of the goods being sold. Hence why their profit is only 1.5%.
What about the $7.5 billion stock buyback program?
lol