In an effort to stand up to competition from discounters and dollar stores supermarket operator Kroger plans to make some major changes to its growth model, according to Fox Business.
At an investor meeting on October 16, Kroger executives announced they will try to take down Wal-Mart by opening more Kroger Marketplace locations, which carry not only groceries, but also general merchandise and apparel. Kroger Marketplace stores can be up to 100,000 sq. ft. in size.
"We are finding more and more opportunities to expand our stores and build new stores ... And there is tremendous opportunity to grow market share as we improve our customer experience while our competitors aren't," President and Chief Operating Officer Rodney McMullen said at the meeting.
Company executives also indicated they would like to grow the brand organically, mainly through expansion in existing markets, rather than through acqusitions, according to Supermarket News.