[Sixstrings]

$this->bbcode_second_pass_quote('', '[')b]Kroger Stock Plunges After CEO Discloses Recovery "Slower And Weaker"; Americans "Cautious" In Buying Food

Another day passes, proving that you have economic propaganda (is the Dow at 36,000 yet, solely on ponzi hot potato passing between 3 computers and 2 primary dealer), and then you have reality. A quick look at KR stock indicates that not all is good with the largest US supermarket chain. Sure enough, earlier today, the company announced it was lowering the top end of its full-year profit forecast. Kroger projected per-share earnings of $1.65 to $1.78, compared with its previous forecast of $1.60 to $1.80, according to a statement today by the Cincinnati-based retailer.

The consensus is $1.78. It was, however, the commentary from the conference call is most telling: The slow economic recovery is hurting grocery sales and consumers are “cautious in their spending,” Chief Executive Officer David Dillon told analysts on a conference call. The recovery is slower and weaker than Kroger had expected and competition remains “intense,” he said. Hear that: the economy is "slower and weaker"...Although that only pertains to such irrelevant items as food and drink. And who needs those when you have Kindles to keep you fed and warm at night.

America is now officially insane.
http://www.zerohedge.com/article/kroger-stock-plunges-after-ceo-discloses-recovery-slower-and-weaker-americans-cautious-buyin

[vision-master]

BS, Oily say's thing are getting better, new car sales are up and unemployment is down.

FYI: Three day's ago around here gas could be had for $2.79 gal, now it's up to $3.04 gal.
Will we see $4 gal by spring or maybe even $5 gal?

[Cid_Yama]

My wife worked at the homeless shelter this Thanksgiving. When she got there that morning she found dozens of people standing around the lobby in tee-shirts shivering. (temperatures had dropped 40 degrees to near freezing overnight.) The shelter only had a couple coats and a couple flannel shirts on hand so she picked up the phone and called the local TV and radio stations. The reponse was over-whelming. (I am very proud of her, and wanted this chance to give her her due.)

Later in the day while delivering Thanksgiving dinners to elderly in a small apt complex she found an older woman sitting in the cold eating a can of cat food.(Also taken care of immediately.)

You don't see it on TV. All the sitcoms make it look like the average American has a 6 figure salary. The reality is quite different.

Those pictures of the Great Depression are being lived out right now in the United States. It's time for it to stop being our dirty little secret.

Next time you see a homeless person, hand them 5 dollars. It's nothing to you, but will be a fortune to those who have none, and will ensure that that person eats that day.

[Xenophobe]

They aren't struggling. Millions of Americans have gone out and started growing their own. Obviously this reduction in store bought demand is having completely predictable side effects.

[Cid_Yama]

That's the most idiotic (and heartless) statement I've seen anyone post on here.

[Crazy_Dad]

$this->bbcode_second_pass_quote('Cid_Yama', 'T')hat's the most idiotic (and heartless) statement I've seen anyone post on here.

[Cid_Yama]

OK, there have been a lot of idiotic and heartless statements made, but that one is right up there.

[Crazy_Dad]

$this->bbcode_second_pass_quote('Cid_Yama', 'O')K, there have been a lot of idiotic and heartless statements made, but that one is right up there.

[americandream]

$this->bbcode_second_pass_quote('Xenophobe', 'T')hey aren't struggling. Millions of Americans have gone out and started growing their own. Obviously this reduction in store bought demand is having completely predictable side effects.

[Sixstrings]

$this->bbcode_second_pass_quote('Cid_Yama', 'O')K, there have been a lot of idiotic and heartless statements made, but that one is right up there.

[rangerone314]

I got an idea since the rich (and republicans) are so worried about class warfare.

Lets encourage the poor to rise up when they are hungry and become cannibals and eat the rich! (preferable old rich people, even though they me be a little tough)

Actually kind of sorry about the Kroger thing, they seemed to be a pretty decent operation... surprising... and... alarming.

[gollum]

$this->bbcode_second_pass_quote('Cid_Yama', 'M')y wife worked at the homeless shelter this Thanksgiving. When she got there that morning she found dozens of people standing around the lobby in tee-shirts shivering. (temperatures had dropped 40 degrees to near freezing overnight.) The shelter only had a couple coats and a couple flannel shirts on hand so she picked up the phone and called the local TV and radio stations. The reponse was over-whelming. (I am very proud of her, and wanted this chance to give her her due.)

Later in the day while delivering Thanksgiving dinners to elderly in a small apt complex she found an older woman sitting in the cold eating a can of cat food.(Also taken care of immediately.)

You don't see it on TV. All the sitcoms make it look like the average American has a 6 figure salary. The reality is quite different.

Those pictures of the Great Depression are being lived out right now in the United States. It's time for it to stop being our dirty little secret.

Next time you see a homeless person, hand them 5 dollars. It's nothing to you, but will be a fortune to those who have none, and will ensure that that person eats that day.

[sparky]

.
Russia , 1995 ..Collapse of the state institution
no wages being paid , people were going to work because they had a meal at the cantine
war veterans selling their medals , teachers begging in the streets
everybody had their smallplot to grow potatoes , growing tomatoes on inside window
often no electricity ,or gas
the only bright lights were the alcohol vending stand
and the jeep cherokee of the thugs .

This is what happens when you get your financial news from ZeroHedge.

Just the facts, ma'am
$this->bbcode_second_pass_quote('', 'U')S grocery retailer Kroger saw its shares plummet today (2 December) even after the company reported rising third-quarter sales and underlying earnings.

Shares in the retailer were fell more than 9% despite the retailer recording a 3.1% increase in sales, excluding fuel, and a 14% increase in underlying earnings for the quarter to 6 November.

Kroger's identical-store sales, excluding fuel, were up 2.4% against the same period last year, while operating margin increased six basis points.

The retailer's net earnings reached US$202.2m against a $874.9m loss in the same period last year. Kroger said the 2009 result included a $1.05bn write down. Excluding the 2009 impairment charges, net earnings would have been $176.7m, which would have meant a 14.4% net earnings increase.

[vtsnowedin]

I don't want to take the heartless side of this and Kudos to your wife for her efforts Cid but I have a slightly different take on the original story.
The store management didn't say that people were buying less food just that they were being careful about how they spent their money.
To me that brings to mind buying a twenty pound bag of rice instead of buying it in one meal prepackaged boxes (Rice a Ronnie). Or a five pound canned ham for twelve bucks vs. sliced deli ham at $7.50/lb. All those prepackaged meals that pop into the microwave including the popcorn are probably staying on the shelves but the bulk commodities are probably doing all right.
The stores problem is that the mark up on the prepackaged preprepared stuff is much higher then for bulk items like sugar and flour so people may well be still eating as many calories as before but the stores bottom line is on a diet.
If you have two adults working in a family then no one has the time or the energy to cook so you eat a lot of pre made/prepackaged stuff as well as buy take out or eat out quite frequently. Let one or the other get laid off and the one that is home Should start cooking as he or she has the time and their efforts can go a long way towards making up for the lost income. They should have time to tend to a garden too. Of course some will not realize the importance of this and keep ordering delivery pizza as long as the money lasts but many will take up the challenge and keep their household on an even keel as long as there is one decent income.
It can be said that many in America today have no idea how to get along as a poor person as they have no experience with it. Imagine a Woman from Haiti dropped into your local supermarket with two twenties in her pocket. She is going to come out of there with a much different bag of groceries then you or I will.

[Maddog78]

zerohedge can be entertaining but you lower your credibility when you quote it as a source.

[the48thronin]

hatcheries and tree farms are doing OK.. Baby chicks sold out, fruit trees at the nursery sold out.. maybe Americans are spending their money more carefully!

[Sixstrings]

$this->bbcode_second_pass_quote('OilFinder2', 'T')his is what happens when you get your financial news from ZeroHedge.

...

1. How is a 2.4% same-store increase in non-fuel sales "folks cutting back on" food?

[Crazy_Dad]

$this->bbcode_second_pass_quote('Maddog78', 'z')erohedge can be entertaining but you lower your credibility when you quote it as a source.