Kroger CEO Says Expect More Than 20% Growth In Retail Media Business In 2024; Personal Finance Business Delivered Mixed Results In 2023, As Credit Card Business Saw An Increase In Customer Bad Debt; Working To Convert Non-pharmacy Customers By Increasing Marketing, Adding In-Store Engagement To Help Awareness
Portfolio Pulse from Benzinga Newsdesk
Kroger's CEO announced expectations of over 20% growth in its retail media business for 2024. The personal finance segment showed mixed results in 2023, with an increase in bad debt in the credit card business. Efforts are underway to convert non-pharmacy customers through enhanced marketing and in-store engagement.
March 07, 2024 | 3:22 pm
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POSITIVE IMPACT
Kroger's CEO projects significant growth in the retail media sector and acknowledges mixed outcomes in the personal finance division, with a specific challenge in credit card bad debt. Strategies to attract non-pharmacy customers are being enhanced.
The positive outlook for Kroger's retail media business suggests potential revenue growth, which could positively impact stock prices. However, the mixed results in the personal finance sector, particularly the increase in bad debt, could be a concern for investors. The company's proactive measures to convert non-pharmacy customers through marketing and in-store engagement indicate a strategic approach to growth, potentially offsetting concerns in the personal finance sector.
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