Tech stocks are being muddied again. The larger and noteworthy narrative here is the plunge in high beta stocks, tracked by me in what’s called a ‘Bubble Basket.’ These are high valuation, high return names, which have been cracked asunder during today’s session — down by 1.63%.
On a more personal level, I’ve never spent more money at the grocery store in my life. After leaving whole foods with half a cart filled with steaks, chops and delicacies, I find myself angry at the bill — usually in the range of $400-$600. Everything is expensive. If you want to eat cheaply, head on over to Shop-rite and procure poisonous foods for yourself and your family.
Today’s KR is getting rocked. Being the country’s largest independent food retailer, I’d say this is a big deal. We’re at 2014 levels on KR today.
Kroger reports EPS in-line, beats on revs; lowers FY18 EPS below consensus (30.28)
Reports Q1 (Apr) earnings of $0.58 per share, excluding non-recurring items, in-line with the Capital IQ Consensus of $0.58; revenues rose 4.9% year/year to $36.28 bln vs the $35.69 bln Capital IQ Consensus.
Co issues lowered guidance for FY18, sees EPS of $2.00-2.05 from $2.21-2.25, excluding non-recurring items, vs. $2.19 Capital IQ Consensus Estimate.
Gross margin was 22.1% of sales for the first quarter. Excluding fuel, ModernHEALTH and the LIFO charge, gross margin decreased 45 basis points from the same period last year.Guidance Details: Kroger continues to expect identical supermarket sales growth, excluding fuel, of flat to 1% growth for 2017. The company continues to expect capital investments excluding mergers, acquisitions and purchases of leased facilities, to be in the $3.2 to $3.5 billion range for 2017.
This has spilled over into other retailers of delicious provisions, such as SFM (-9%), SFS (-7.6%), WFM (-6.6%) and SVU (-5%).
Dare I say, what the hell is going on in America, in that its finest retailers of food are plunging in share price? Clearly, what this market needs is a dot plot and much higher interest rates, to help break us out of this low interest rate burden of an environment.
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Meh. Dear Leader disagrees: “I think this quarter’s GDP numbers are going to be shockingly good given all the facts we’re seeing” http://video.foxbusiness.com/5a087542-2e99-4032-8d83-a2cdc25cfe34
Nothing to worry about, just turn on the autobuy algos and we will go green again. Everyone is flush with cash.
Monsanto rules in the food chain.
Walmart food dept is up I bet. As middle class is forced to buy cheaper food cus of high health care and housing costs.
You noticed inflation too? Nice.
#1) the unemployment rate is a lie. It’s close to 50%
#2) the half that do work pay for the half that don’t work
#3) the stock markets don’t reflect the value or earnings anymore. It’s strictly hype. So it logically follows if people don’t have money to buy grocerys, the retailers don’t profit?
Fly seems smarter than the average chucklehead but this article smacks way too much of naivety. Very serious people have forecasted that half the cities in America will be rioting by October once the EBT is turned off. Illinois is already paying vendors with IOU, at junk status they can’t finance their own state.
I predict Chicago or Baltimore burns first.
Add to that the imminent race war and we got ourselves a whopper.
I pretty much never shop at the grocery store anymore. Hello Fresh for dinners and protein bars/shakes, other items from delivered from Amazon. In regards to Hello Fresh, you can’t beat the convenience, the recipes are top notch, and it is clean eating at a great price point.
Yuppie
DINK
Urban bubble boy
Haha… nice trolling. You know nothing. I may be able to afford the luxuries life offers, but I also have a blue collar background, grew up on black-eyed peas and cornbread (i.e. dirt poor), served in two combat zones, and have quite the arsenal. So I would say it was earned. I pretty much owe it to TX, where the American Dream is still alive and well.
yeesh, was just kidding
All this gloom makes me want to buy something. Long FCX at 11.67.
Meanwhile; the market sits near record highs.
Did you grow up eating organic? Are you healthy? ok, then you are being scammed for buying that shit…
I can go to a local butcher and get amazing steaks for $4.49 / lb
Probably horse meat from Mexico
GMO and the other poisons weren’t around 30 years ago jackass
shut up, germ.
Cosmic rays have been genetically modifying everything since the beginning of time. Deal with it fruitcakes!
With ALDI dramatically expanding their footprint, margins will continue to get squeezed. Tough business to be in.
Are these numbers about correct:
* Total US National Debt $20T
* Total US private net worth $90T
* Top 1% share of US private new worth 33% = $30T
And didn’t the top 1% benefit disproportionately from the creation of much of that debt.
My Whole Foods bill is up about 50 percent from two years ago, on about the same bag of things. I’m frequently disappointed with quality or experience in the store. I think this is mostly caused by staffing matters. They need to hire higher on the socioeconomic ladder. No doubt they would rather not pay for that cost.