Kroger's Online Sales Growth Slows in the Third Quarter

By Sheridan Fifer

Kroger's online sales surged 127% in the second quarter as the coronavirus pushed more spending online. In the third quarter, however, online sales growth slowed, a development that contributed to a quarterly sales miss. One analyst pointed out that the rate of growth seen during the pandemic is ultimately unsustainable; the crisis won't last forever. Still, Kroger raised its 2020 profit forecast on Thursday. The country has seen a spike in coronavirus cases recently, boosting Kroger's sales. 

“As you look to 2021, we expect, obviously, the digital growth won’t be as much as it was in 2020,” Chief Executive William McMullen told analysts.

Read the full story at Reuters.