Kroger Co’s comparable sales surged about 30 percent in March as consumers stockpiled due to the CCP virus pandemic, and the grocer said it had borrowed $1 billion to boost its cash reserve as it prepared for any fallout from the health crisis.
The Cincinnati, Ohio-based company’s shares rose about 5 percent after the supermarket chain also maintained its forecast for the year, especially when most of its rivals have scrapped their estimates due to the CCP (Chinese Communist Party) virus-related uncertainty.
