In this economy, cash-strapped consumers have become more budget conscious and less concerned about appearing cheap. As a result, better-known brands have steadily been losing ground to store-branded food products.
Supermarket chain Kroger boosted sales and turned a profit in its fiscal third quarter, but failed to beat Wall Street earnings estimates and lowered the top of its 2010 earnings forecast range. Shares fell 9.3% on the news to close at $21.63 Thursday.
Kroger Co. increased its quarterly dividend by 10.5% as the largest U.S. supermarket chain continues to outperform the industry.
