Kroger to shutter 60 stores following shock ouster of CEO, failed merger

Major grocery chain Kroger plans to close 60 underperforming stores following the ouster of its CEO and failed merger with rival Albertsons.The chain, which operates more than 1,200 stores, said it took on a $100 million impairment charge related to the planned closures in the first quarter, Kroger said in an earnings release on Friday.It expects a “modest financial benefit” from the closures – which will hit roughly 5% of locations – in the long term, the company added.Kroger plans to close 60 stores over ...