Grocery Prices Hiked Beyond Inflation 2024
“Grocery Stores Have Hiked Prices Beyond Inflation — and Their Stocks Are Soaring”, published: Sep 04, 2024, https://money.com/grocery-store-prices-inflation-stocks/
Per FTC, “Grocery chain profits spiked 11% between 2021 and 2022, and have yet to come down”; “this profit trend casts doubt on assertions that rising prices at the grocery store are simply moving in lockstep with retailers’ own rising costs”.
“Costco, for example, saw its profit margins are up from 12.2% in 2022 to 12.3% in 2023, with a trailing 12-month reading of 12.5% into 2024. Since 2019, the company’s revenue has grown by more than 66% while its net income (aka profit) increased nearly 96%.
“Over the past 5 years, the S&P 500 has gained nearly 86% largely on the back of the Magnificent Seven. For comparison, shares of Ingles, a supermarket chain in the Southeast, have gained more than 84%; Walmart has seen its stock rise 102% since 2019; Kroger’s stock has gained more than 117% and shares of Costco are up over 190%”.
