Kroger said this morning that its Q1 digital sales were up a whopping 91 percent.
Net income was $1.21 billion, up from $772 million during the same period a year ago, the company said. Sales for the period were $41.55 billion, up from $37.25 billion a year ago, on same-store sales that were up 19 percent.
- KC's View:
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The folks at Kroger have to be enjoying the moment. They've got to be exhausted, but feeling pretty good.
Reminds me of the moment at the end of All The President's Men, when Ben Bradlee looks at Bob Woodward (Robert Redford) and Carl Bernstein (Dustin Hoffman) and growls, "Look, you're both probably a little tired, right? You should be, you've been under a lot of pressure. So go home, have a nice hot bath, rest up fifteen minutes if you want before you get your asses back in gear…"
Which is the way it is for Kroger and everyone else these days. Even those having good months. Enjoy the moment, rest up 15 minutes, and then get back in the game … and in this case, start thinking about Q1 2021, 2022, and beyond. They'll be here before you know it.
