More California Genius

[JustRalph]

https://hotair.com/archives/jazz-sha...table-results/

Idiots!

[Stevecsd2]

Idiots. They are hurting the very people they claim to support. They are economic and financial imbeciles.

From the article:
Members of the Los Angeles City Council took another page out of Long Beach’s book, talking about the greedy chain stores and their “record profits.”

For most grocery stores the net profit margin is between 1%-2% of the combined revenues. I just did it for Walmart a couple of weeks ago. Their net profit was about 1.5% of the gross revenues.

[JustRalph]

Thaskalos? Cant wait for your comment?

[Elkchester Road]

Originally Posted by JustRalph

Thaskalos? Cant wait for your comment?

Ralph, I'm going to guess that when it comes to some Posters, we'll be waiting a LONG time for their comments.

[JustRalph]

Originally Posted by Elkchester Road

Ralph, I'm going to guess that when it comes to some Posters, we'll be waiting a LONG time for their comments.

Thask knows the grocery business. I look forward to his comments.

Adding 25% to labor costs would put most businesses out

[Elkchester Road]

Originally Posted by JustRalph

Thask knows the grocery business. I look forward to his comments.

Adding 25% to labor costs would put most businesses out

[Marshall Bennett]

Originally Posted by Elkchester Road

Ralph, I'm going to guess that when it comes to some Posters, we'll be waiting a LONG time for their comments.

They're like the liberal press corps... they address issues they think they can hang with using rage and chaos, and disregard everything else. Issues conservative in nature with any degree of intelligence and sound foundation is avoided like the plague.

[Andy Asaro]

A vote for Dems is a vote for Chaos, Misery, and Idiocy. it's intentional

[davew]

Originally Posted by JustRalph

Thask knows the grocery business. I look forward to his comments.

Adding 25% to labor costs would put most businesses out

don't you FEEL it will just increase the prices 10% or so? since all of the chains will have to do it.


When gas gets over $4, people will not be willing to drive distances for groceries.

[mostpost]

Originally Posted by JustRalph

https://hotair.com/archives/jazz-sha...table-results/

Idiots!

Los Angeles County is a huge county with a population over ten million. There have to be hundreds of Grocery stores. The story says the stores are closing in part due to the new law. It also says these were underperforming stores.

What we have is a case of scapegoating. Using this law to deflect criticism of something that was already in the planning stages or actually decided upon.

The law passed in February. Four or five weeks does not seem enough time for an organization like Kroger to make such a decision. If these had been profitable locations the company would have figured out a way to make this happen. Especially since this was only for the duration of the crisis.

[boxcar]

Originally Posted by JustRalph

https://hotair.com/archives/jazz-sha...table-results/

Idiots!

Proving once again that stupidity should be a crime with stiff penalties.

[mostpost]

Kroger’s profit in 2020 was $26,992,000,000; up almost 1% from 2019. Using that, Kroger could have paid 1,000 employees $5 an hour for 5,398,400 hours or 2500 years.

Kroger made more money during the pandemic, it’s employees did not due reduced store hours and shortened shifts.

[Dave Schwartz]

This is yet another case of municipal mismanagement, as bumbling bureaucrats dream up ways to “do the right thing” during the pandemic.

The end of that sentence should have included, "... at someone else's expense."

[JustRalph]

Originally Posted by mostpost

Los Angeles County is a huge county with a population over ten million. There have to be hundreds of Grocery stores. The story says the stores are closing in part due to the new law. It also says these were underperforming stores.

What we have is a case of scapegoating. Using this law to deflect criticism of something that was already in the planning stages or actually decided upon.

The law passed in February. Four or five weeks does not seem enough time for an organization like Kroger to make such a decision. If these had been profitable locations the company would have figured out a way to make this happen. Especially since this was only for the duration of the crisis.

So full of shit. Once again you have never signed the front of a paycheck.

Every large business has multiple locations that don’t make a profit or are just under making a profit. The profitable stores always support the under performing stores. But you are always working to get the other stores to the point of profitability.

Your brand and the value of your company are enhanced by having those other under performing stores employing people, growing your workforce and feeding the company just like any other store.

You don’t treat the stores differently you continually work on making everyone profitable and reaping the benefits no matter how small for each store. A couple thousand people have lost their jobs and some of those we’re probably very good future employees/managers etc. it’s just like having a family. You treat all your children basically the same and hope that all of them turn out great.

[Mulerider]

Originally Posted by mostpost

Kroger’s profit in 2020 was $26,992,000,000; up almost 1% from 2019. Using that, Kroger could have paid 1,000 employees $5 an hour for 5,398,400 hours or 2500 years.

Kroger made more money during the pandemic, it’s employees did not due reduced store hours and shortened shifts.

Do you seriously not know the difference between gross profit and net profit?

Kroger's net income for its 2020 fiscal year -- pre-tax -- was $1.6 billion on sales of $122 billion.

Since you overstated Kroger's "profit" by a factor of 17, or roughly $25 billion, you might want to recalculate the rest of your numbers. Although I'm sure you'll find a way to vilify Kroger either way.