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Kroger says exploring sale of convenience stores business
October 11, 2017 / 1:24 PM / 2 months ago

Kroger says exploring sale of convenience stores business

Oct 11 (Reuters) - Grocery chain operator Kroger Co said on Wednesday it would explore strategic alternatives, including a potential sale, for its convenience stores business in the United States.

The company – which has 784 convenience stores among its nearly 2,800 retail stores – said it has hired Goldman Sachs and Co to help with the review.

"This is the result of a review of assets that are potentially of more value outside of the company than as part of Kroger," Kroger said in a statement ahead of its investor meeting. (bit.ly/2g173qv)

Kroger also forecast identical supermarket sales for its full-year ending January 2019 to be higher than the current fiscal year, with profit to be flat or up slightly. (Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Savio D‘Souza)

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