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November 16, 2009

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Grocery giants’ results decline

Tuesday, March 9, 2004 | 11:09 a.m.

Kroger Co. of Cincinnati, the largest U.S. supermarket chain, today reported a fourth-quarter loss of $337 million after writing down assets. Profit at Albertsons Inc. of Boise, the second- largest U.S. grocer, dropped 37 percent, hurt by a 4 1/2-month strike in Southern California.

Kroger's net loss in the quarter ended Jan. 31 was 45 cents a share. Profit at Albertsons declined to $130 million, or 35 cents a share.

Both companies are big operators in Las Vegas. Kroger has Food 4 Less and Smith's Food & Drug stores in Southern Nevada while Albertsons has grocery stores under that brand along with Sav-on drug stores.

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