New York City Mayor-elect Zohran Mamdani has said city-run grocery stores are an opportunity to address affordability and to give the public a choice.
    • BombOmOm@lemmy.worldEnglish
      125·
      15 hours ago

      Kroger’s revenue is $150B, with a net income of $2.3B. That is a profit margin of…1.5%. One-point-five percent profit.

      As I said, grocery stores operate on tiny margins. There isn’t much to cut either for the private store or the government store.

      gross margin in 2024 was 22.3%

      Gross margin is not profit, it only accounts for direct costs of the goods being sold. Hence why their profit is only 1.5%.

    • Tollana1234567@lemmy.today
      1·
      10 hours ago

      depends on the store and which location, some grocery store in certain areas certainly dont make even after a while.