CINCINNATI – Kroger is preparing to lower prices on thousands of items as new CEO Greg Foran moves to regain market share from competitors including Walmart, Costco and Aldi, according to Reuters.
In his first interview since taking the role in February, Foran told Bloomberg the company will take a phased approach — testing price reductions before rolling them out more broadly. “The reality is, the basket has to come down. And not everyone’s basket is the same,” he said, adding that the cuts will span thousands of products and must resonate with customers at a practical level.
The initiative will be funded through cost savings and operational improvements, including importing goods directly and increasing the use of technology, with those efficiencies intended to support lower shelf prices. Foran did not disclose the total investment.
Beyond pricing, the company is aiming to enhance the in-store experience and accelerate store expansion. Kroger is targeting 70 to 80 new locations next year, roughly double its planned openings for 2026.
The strategy follows a turbulent period for the retailer, including the collapse of its proposed merger with Albertsons and the departure of longtime CEO Rodney McMullen. Foran, a former head of Walmart’s U.S. business and most recently CEO of Air New Zealand, is Kroger’s first external chief executive.
