Kroger and Albertsons are Feeding Wall Street While Starving Stores

Kroger Albertsons merger, creator: Oleg Brovko. Creative Commons

Read the new Economic Roundtable report

Across the country, grocery store workers are sounding the alarm: stores are dangerously understaffed, wages have fallen behind, and corporate profits are soaring at the expense of workers and customers alike.

Kroger and Albertsons have boosted their stock prices 77% more than the overall stock market, feeding Wall Street with short-term gains while their workers are left behind, and communities suffer.

If these trends continue, groceries may become harder to find and harder to afford.

A new report from the Economic Roundtable, “Bullies at the Table,” documents the devastating impact of chronic understaffing at Kroger and Albertsons stores.

READ THE REPORT FROM THE ECONOMIC ROUNDTABLE

Based on surveys from grocery workers in Colorado, Southern California, and Washington, and a financial analysis of the companies, here are some key findings:

More than nine out of ten grocery store workers in the three states studied say that there is price gouging at their stores.

Customers put groceries back on the shelf because they cannot afford to buy them and are eating less balanced and healthy food than they used to.

More than four-fifths of workers are unable to pay basic living costs.

More than two-thirds do not have secure housing.

Weekly earnings for U.S. grocery workers in real dollars dropped 15% from 2003 to 2024.

From 2018 to 2022, Kroger and Albertsons took $15.8 billion in cash out of their businesses and sent it to shareholders while neglecting maintenance of their stores.

A $5.50 per hour raise for nonsupervisory grocery workers would stimulate almost twice as much new value in the economy.

“This fight affects all of us — workers, families, and communities.” said UFCW 770. “We need fair contracts, living wages, and enough staff to safely and effectively serve our neighborhoods.

Grocery workers are determined to fix these issues at the bargaining table, but if the company will not show any interest to improve, we will continue to escalate our actions in coordination with our customers.”