Teknevra@lemmy.world to News@lemmy.worldEnglish · 8 months agoZohran Mamdani is pushing for New York City-run grocery stores. Here's what he envisions.www.cbsnews.comexternal-linkmessage-square8linkfedilinkarrow-up1275arrow-down13
arrow-up1272arrow-down1external-linkZohran Mamdani is pushing for New York City-run grocery stores. Here's what he envisions.www.cbsnews.comTeknevra@lemmy.world to News@lemmy.worldEnglish · 8 months agomessage-square8linkfedilink
minus-squareBombOmOm@lemmy.worldlinkfedilinkEnglisharrow-up5arrow-down2·8 months agoKroger’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%.
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 is not profit, it only accounts for direct costs of the goods being sold. Hence why their profit is only 1.5%.