Deals
Kroger Shares Jump After Company Eyes Sale of Convenience Stores
- Names such as Loaf ‘N Jug and QuickStop could be on the block
- Company is evaluating assets as Amazon pushes into industry
Why Kroger Might Sell Convenience-Store Business
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Kroger Co., battered for months by intense grocery competition as Amazon.com Inc. muscles into the industry, has finally given investors cause for optimism.
The supermarket giant kicked off its biggest rally in more than two years after saying it might sell its convenience-store business, an attempt to capitalize on a merger wave in that field. The operation, which spans 18 states and generates about $4 billion in sales, includes names such as Tom Thumb and QuickStop.