Ryan English spoke with Steve Watkins of the Cincinnati Business Courier about Walmart and Kroger earnings results. Here is an excerpt from the story published on August 26th:
Investment pros who track Kroger say the Walmart push into e-commerce reflects the direction retail is headed. It’s not the only one making that move, said Ryan English, investment manager at Kenwood-based investment advisory firm Foster & Motley.
“Really, everyone is just playing catchup to Amazon at this point,” English told me. “I don’t necessarily think Walmart’s online sales growth is a concern for Kroger, just more confirming evidence that online grocery shopping is the future.”
But Kroger is still in good position, English said.
“Although the grocery business is extremely price competitive, there is a customer loyalty aspect to it,” English said. “Kroger should be positioned to transition their existing grocery brick-and-mortar customers to online when those customers are ready to make the move.
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