I hate the way the news spins the truth.
Headline: Inflation Costs: Food Prices Reach Record Highs Under Biden-Harris as Kroger Rakes in Billions in Profits
Article: The grocery retailer Kroger rakes in billions in profits as Americans struggle to afford the rising food prices. The company's most recent annual gross profit was $33.36 billion, a 5% increase from the prior year.
Truth:
Kroger annual gross profit for 2024 was $33.364B, a 4.99% increase from 2023.
Kroger annual gross profit for 2023 was $31.778B, a 4.71% increase from 2022.
Kroger annual gross profit for 2022 was $30.349B, a 1.79% decline from 2021.
Kroger annual operating income for 2024 was $3.096B, a 24.96% decline from 2023.
Kroger annual operating income for 2023 was $4.126B, a 18.67% increase from 2022.
Kroger annual operating income for 2022 was $3.477B, a 25.07% increase from 2021.
Kroger annual net income for 2024 was $2.164B, a 3.57% decline from 2023.
Kroger annual net income for 2023 was $2.244B, a 35.59% increase from 2022.
Kroger annual net income for 2022 was $1.655B, a 35.98% decline from 2021.
So their net income was 6 1/2% ? Gross income means nothing, that's just total sales. If the products to make those sales goes up, your gross income better go up or you will be bankrupt.